Today's concerns over the coronavirus translate not only into a sell-off in the stock market, but also into increased volatility in the precious metals market. Gold was unable to stay above the $ 1,900 level and the price fell rapidly. Looking technically at the H4 gold chart, the key support remains at the $ 1,850 level, marked with previous price reactions, the lower limit of the 1: 1 structure and 38.2% retracement of the recent upward move. In the case break below occurs, the next support is located at $ 1,820. The level of $ 1,900 is acting as a resistance.
Gold interval H4. Source: xStation5
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