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FX.co ★ Analysis of Gold for December 14,.2020 - Watch for buying opportuntiies with the target at $1.847

Analysis of Gold for December 14,.2020 - Watch for buying opportuntiies with the target at $1.847

Eurozone October industrial production +2.1% vs +2.0% m/m Brexit: Von der Leyen, 'We want a level playing field'
  • Fine about the architecture of the trade deal, but details are crucial
  • On the last mile of negotiations

Once/if the level playing field is resolved then that should seal the deal. Definite shift in sentiment over Brexit negotiations this am with more upbeat tones all round. Will it last? My view is that we will get there, but I am not buying the GBP on that view. Prudent action is to stay tuned and then probably look for a buy the rumour, sell the fact response.

Analysis of Gold for December 14,.2020 - Watch for buying opportuntiies with the target at $1.847

Further Development

Analysis of Gold for December 14,.2020 - Watch for buying opportuntiies with the target at $1.847

Analyzing the current trading chart of Gold, I found that there is potential for the another upside movement due to accumulation that I have found.

My advice is to watch for buying opportunities with the potential target at $1,847.

I also found the fake breakout of th support at $1,823., which is another confirmation for fhe further rise.

1-Day relative strength performance Finviz

Analysis of Gold for December 14,.2020 - Watch for buying opportuntiies with the target at $1.847

Based on the graph above I found that on the top of the list we got Ethanol and Natural Gas today and on the bottom VIX and Orange Juice.

Key Levels:

Resistance: $1,847

Support level: $1,825/2

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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