German minister of state for Europe, Michael Roth, comments in a letter to the UK government as seen by Der Spiegel
- Agreement was signed nine months ago, cannot be changed
- A fair deal on Brexit is still possible
Just some added posturing by the EU camp as negotiations are still ongoing this week. So far, there are little details on how things are progressing but given that the first key deadline is 15 October, I reckon both sides won't give up their red lines just yet.
As I discussed in the previous review, the Gold is still in the the downward trend and I see further downside continuation.
The level at $1,895 seems like solid resistance for the price today.
Further Development
Analyzing the current trading chart of Gold, I found good sell-zone location at $1,895 and lack of buying power, which is good sign for selling opportunities.
Watch for selling opportunities on the rallies with the downside targets at $1,848 and $1,818.
1-Day relative strength performance Finviz
Based on the graph above I found that on the top of the list we got Orange Juice and Silver today and on the bottom Lumber and Natural Gas.
Gold is in the positive territory today but it is also in the overbought zone....
Key Levels:
Resistance: $1,895
Support levels: $1,848 and $1,818.
