Gold is gaining strength due to the spread of Corona virus and the US presidential election and Federal Reserve policy meeting.
The support rests at 1880.71 with resistance at 1891.23 which the weekly pivot point at 1884.28 is located in between the lines. The EMA of 10 is moving with bullish bias in the descendant channel and it is below the EMA of 100 and the EMA of 200. The RSI is rising towards level 50, the Stochastic is showing upward momentum and the MACD line is above the signal line in the positive territory. The ADX is showing buy signals. The price is in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Long positions are recommended towards 1898.
