Analysis of Gold for September 16,.2020 – Watch for the breakout of well defined symmetrical triangle to confirm further

  • Retail sales control group -0.1% vs. +0.3% estimate
  • Retail sales ex auto +0.7% vs. 1.0% estimate
  • Retail sales ex auto and gas +0.7% vs. 0.9% estimate
  • ex auto and building materials 0.5% vs. 1.7%
  • ex food services +0.1% vs. 0.5%
  • gasoline sales +0.4% vs. July is up 4.4%
  • cars/parts sales +0.2% vs. July’s -1.0%
  • food and beverages -1.2% vs. +0.6%
  • furniture +2.1% vs. +0.9%
  • sporting-goods -5.7% vs. -5.3% last month
  • Gen. merchandise -0.4% vs. -1.1% last month. Department store sales fell -2.3% vs. 2.0% last month
  • eating and drinking increased to 4.7% vs. 4.1% last month

Further Development

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Analyzing the current trading chart of Gold, I found that the price is still inside of the trading range and that is awaiting for the breakout.

1-Day relative strength performance Finviz

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Based on the graph above I found that on the top of the list we got VIX and Crude Oil today and on the bottom Lumber and Coffee.

Key Levels:

Resistance: $1,973

Support levels: $1,863 and $1,818.

The material has been provided by InstaForex Company – www.instaforex.com

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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