No surprises here
- Euro area Q4 GDP -2.3% (+2.2% previously)
- UK Q4 GDP -2.4% (+3.6% previously)
I always make mention that when it comes to forecasts, especially during this time, take them with a pinch of salt. They mean little considering that there is no certainty on how the virus situation is going to progress and how governments will respond.
If anything else, just use these as a sentiment guide rather than a predictor of sorts.
Further Development
Analyzing the current trading chart of Gold, I found that the Gold is near the critical pivot resistance at the price of $1,895/$1,897 and that there is potential for the downside rotation.
1-Day relative strength performance Finviz
Based on the graph above I found that on the top of the list we got Lumber and Feeder Catt;e today and on the bottom VIX and Gasoline RBOB
Gold is positive on the list but with potential overbought condition...
Key Levels:
Resistance: $1,895
Support level: $1,866 and $1,849
