Technical alert: GOLD

4:38 PM March 16, 2020

During Monday’s session we can observe elevated volatility on financial markets, especially on stocks and commodities. Gold and silver prices fell dynamically but now the buyers are trying to recover. Looking technically at the gold market, it is trading near a key resistance which is marked with the upper limit of Overbalance structure (1520$). As long as the price sits below, the main trend remains downward. However, a break higher may lead to a bigger upward move.

GOLD M30 interval. Source: xStation5

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