18/11/2020 #gold #XAUUSD Bearish below 1890
I have tweeted many times about the importance of this level. We spent so much time at this level and now price is below.
Below targets are 1873.56-76, 1857.20. 1848 recent low should cap low of day. Below this is 1836.6.
If price rallies above 1893.52, we are looking at 1897.2, 1900.02-01.4 resistance zone and 1906. 1921.2 is another strong resistance which should cap any up move.
Gold used to rally on USD weakness and in tandem with stock market rally. But times have changed. Now it is crashing on any vaccine news (negatively correlated with stock market). We shall see if the rally will continue
Below targets are 1873.56-76, 1857.20. 1848 recent low should cap low of day. Below this is 1836.6.
If price rallies above 1893.52, we are looking at 1897.2, 1900.02-01.4 resistance zone and 1906. 1921.2 is another strong resistance which should cap any up move.
Gold used to rally on USD weakness and in tandem with stock market rally. But times have changed. Now it is crashing on any vaccine news (negatively correlated with stock market). We shall see if the rally will continue
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