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Gold breaks to 9-year high – GOLD Market Outlook – 09/07/2020

SquaredFinancial

Gold hit our long entry resistance targets at 1800 and 1815 on the back of increasing tensions between China and the west, Texas and California registering record number of Covid-19 deaths and infections respectively, and as Federal Reserve officials raised concerns about the pace of the recovery. US weekly jobless claims due today with bullish momentum looking strong as the yellow metal failed to retrace below 1806 with an hourly close above 1815 to favor further upside.

Support: 1800 / 1790
Resistance: 1815 / 1835

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/gold-breaks-to-9-year-high-gold-market-outlook-09-07-2020
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