Technically the scenario is unchanged, with a first support zone placed at $1,920, while we would have a major negative signal with a fall below $1,860. Vice versa, a recovery above $2,000 could open space for a new jump, with the peak seen in August at $2,070 a potential target. Anyway, we should point out that bullion is not jumping despite the risk off scenario, confirming the positive (direct) correlation with indices we have seen in the last few months.
Chief analyst at ActivTrades and technical analyst for Italian newspaper 'La Stampa'. Carlo Alberto provides regular commentary for UK outlets including the BBC, Telegraph, the Independent Bloomberg & Reuters. He is also a weekly commentator for CNBC Italy and a columnist for La Stampa. He worked for Bloomberg as their Equity Research Fundamental Analyst before joining brokerage ActivTrades in 2011 to specialize in currency markets and commodities. In 2014 he published a 250-pages book on gold and the gold market, followed in 2018 by a new updated edition.
© 2019 High Leverage FX - All Rights Reserved.
© 2019 High Leverage FX - All Rights Reserved.