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GOLD holds strong and targets higher – GOLD Market Outlook – 16/10/2020

Initial Jobless Claims data continued to point to a slowing labor market economy, coming in at 898K vs. 845K previous, supporting safe haven demand on the yellow metal as it bounced off 1890 support level and is printing above the 200 period SMA, favoring a run towards 1920 as long as 1900 level holds. Heavy data day ahead as investors focus on Retail Sales, Industrial Production and Michigan Consumer Sentiment.

Support: 1900/ 1880-1890
Resistance: 1920/ 1940

SquaredFinancial Daily Market Outlook

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SquaredFinancial Review

Friday, 16 Oct, 2020 / 8:09

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Source : https://www.squaredfinancial.com/learn/daily-market-outlook/gold-holds-strong-and-targets-higher-gold-market-outlook-16-10-2020

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