The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
Gold: trade the sideways move
2021-01-15 • Updated
Gold gives a perfect example of sideways movement. Throughout the entire week, it's been fluctuatin between 1 837 and 1 864. Curently, the trajectory is pointign upwards. Therefore, once it comes to 1 864 - and it will, eventually, as the fundamentals wlil unlikely keep the gold price down for long - watch for the trend reversal signs. If there are none, assume that the resistance of 1 864 is about to be broken. Otherwise, 1 837 is the support to watch. If it is penetrated, the lower one is at 1 817.
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