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Gold Picking Up Traction – GOLD Market Outlook – 02/12/2020

SquaredFinancial

Gold hit our long resistance targets, climbing back above the 200 period SMA on the daily chart, as the greenback continued to weaken and investors positioned themselves in the yellow metal ahead of expected increasing inflation as stimulus talks get back into the spotlight with Fed Powell and Treasury Mnuchin agreeing on the need for further aid. 1815/1820 resistance levels to breach in order to boost further bullish momentum.

Support: 1800/ 1790
Resistance: 1815-1820/ 1835

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/gold-picking-up-traction-gold-market-outlook-02-12-2020
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