FX.co ★ Analysis of Gold for December 03,.2020 - Key pivot level at $1.850. Watch for the price action around the key level to confirm further direction

Still not there yet on level playing field

• UK state aid solutions not in a position that we can agree to
• Major gap still remains on fisheries
• We are milimetres away from touching red lines in talks
• We are not hours away from a deal
• What is needed to agree upon is still quite substantial

There doesn't seem to be much room to compromise and that bolsters the narrative that if both sides are to magically come up with an agreement, it may very well exclude the three key outstanding issues i.e. postponing them to a future date.

Further Development

Analyzing the current trading chart of Gold, I found that the buyers are in control and that Gold is aproaching the strong pivot level at the price of $1,850, which might be the good level for potential sell positions.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got PLatinum and Lumber today and on the bottom Natural gas and Ethanol.

Key Levels:

Resistance: $1,850

Support levels: $1,815