Gold analysis for 15.10.2020
Gold is in demand due to the Corona crisis and the election matters.
The support rests at 1888.69 with resistance at 1907.99 which both lines are below the weekly pivot point at 1913.37. The EMA of 10 is moving with bearish bias in the ascendant channel and it is below the EMA of 100 and the EMA of 200. The RSI is moving below level 50, the Stochastic is showing downward momentum and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Long positions are recommended towards 1930.