Ridethemacro

Gold Price Analysis after Trump contracts coronavirus

TVC:GOLD   CFDs on Gold (US$ / OZ)
The world is in shock after President Donald Trump tweeted that he tested positive for coronavirus. Stocks markets fell, and gold finally broke free of the correlation with equities and advanced above $1,900.

The bombshell development continues grabbing the headlines and casts questions about fiscal stimulus, the elections, and other topics.

As investors continue watching the latest developments, how is the precious metal positioned?
Looking up, gold faces its first noteworthy cluster of resistance at $1,910, which is the meeting point of the Bollinger Band 4h-Upper, the previous daily high, the BB 15min-Upper, and other lines.

The upside target is $1,928, which is the confluence of the Pivot Point one-day Resistance 2 and the PP one-week R1.

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Interesting view
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Ridethemacro VincePrince
@VincePrince, Thanks
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