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Remains supported on stimulus hopes – GOLD Market Outlook – 20/11/2020

The yellow metal continues to find support around 1850/1860 levels, holding on to hopes of fresh fiscal stimulus sparked by news that Senate Majority Leader Mitch McConnell agreed to restart negotiations with democrats over a new bill. Weaker than expected Initial Jobless Claims also supported higher prints, with 1880 (coinciding with 200 period SMA) as closest resistance target.

Support: 1860/1850
Resistance: 1800/ 1900

SquaredFinancial Daily Market Outlook

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SquaredFinancial Review

Friday, 20 Nov, 2020 / 9:12

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Source : https://www.squaredfinancial.com/learn/daily-market-outlook/remains-supported-on-stimulus-hopes-gold-market-outlook-20-11-2020

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