25.02.2020
Gold quotes are correcting down after a sharp rise on Monday amid the rising fears of a more global coronavirus spread with a strong negative impact on global economic growth.
The price is below the middle Bollinger band, below SMA 5 and SMA 14. Moving signals give a sell signal at their intersection. RSI is at 50% and indicates a weakening decline. Stoch enter the oversold zone.
Trading recommendations:
The price may be pressured by the growing demand for risk assets and positive US economy data to be published today. In this case, expect a decrease to the levels of 1620.00 and 1611.50.
Thank you for subscribing to our analytics
You already subscribed
Don't have your language?
