02.12.2019
After a sharp recovery on Friday, the gold price is consolidating in the range of 1452.45–1465.00 on Monday due to the US statistical data along with the US-China trade talks update. Strong economic data from the US may support demand for risk assets and push the dollar upwards, which will have a negative impact on the gold.
The price is above the middle line of Bollinger band, below SMA 5 and SMA 14. RSI is located at 50%. Stoch have turned down.
Trading recommendations:
Expect the instrument to continue trading flat today. In general, the price may start continue falling after breaking the strong support level of 1452.45 and proceed further down to 1444.50..
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