13.03.2020
Gold is under pressure due the emerging chaos in the global market after the demand on the US dollar unexpectedly rose. It is likely that the local weakening of the price of gold will continue if the panic does not subside.
The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is above the oversold zone and indicates a weakening of the price growth. Stoch came out of the oversold zone.
Trading recommendations:
Gold can be sold with a local target of 1548.00 if the price for it remains below 1593.85.
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