01.11.2019
Gold spot is still trading in the range of 1477.00-1514.50 due the uncertainty around the outcome of the US-China trade war. From a technical point of view, if it does not grow after the US employment data is released, a local reversal of the price will be expected.
The price is above the Bollinger band, below SMA 5, but above SMA 14. RSI is located under the oversold zone and is gradually declining. Stoch are out of the overbought zone.
Trading recommendations:
If the data on the number of new jobs in the US shows a higher value than 89,000, gold may turn down and rush to the lower limit of the range of 1477.00.
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