Gold has seen its quick rally of yesterday morning making a sharp stop in the hours following the ECB decision to keep rates unchanged. The spot price is now consolidating at $1,940/1,945, while we have a first support zone placed at $1,920 and a psychological threshold at $2,000.
Technically we remain in the massive lateral trading range started in August between $1,860 and $2,070. A clear surpass of one of these last two levels could give a new directional impulse on gold.
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.
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© 2019 High Leverage FX - All Rights Reserved.