The spread of coronavirus is giving more power to precious metals such as gold.
The support rests at 1571.15 with resistance at 1590.15 which the weekly pivot point at 1577.97 is located in between the lines. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving on 50 level, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals. The price is above the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Long positions are recommended towards 1595.
