FX.co ★ Analysis of Gold for April 20,.2021 - Bull flag pattern and potential for re-test of $1.789 and $1.815

Germany March PPI +0.9% vs +0.6% m/m expectePrior +0.7%PPI +3.7% vs +3.3% y/y expectedPrior +1.9%

Base effect adjustments and higher input costs from supply constraints are the likeliest contributors here, helping to reaffirm higher price pressures in general.

Further Development

Analyzing the current trading chart of Gold, I found that there is the potential completion of the downside correction and new upside wave to begin.

My advice is to watch for buying opportunities with the upside targets at $1.789 and $1.815.

Stochastic oscillator is showing bull cross mode....

Key Levels:Resistance: $1.789 and $1.815.Support level: $1.765