Latest data released by Eurostat - 13 November 2020
GDP -4.4% vs -4.3% y/y prelim
Little change to the initial releases as this just reaffirms the strong bounce back in Q3, though the market focus is on the outlook towards the year-end and the heightened virus situation across the region currently.
For some added context, Eurozone GDP is still 4.4% below pre-pandemic levels after the boost seen in Q3 as per the above.
Further Development
Analyzing the current trading chart of Gold, I found that Gold is in balancing process and that I would wait for the breakout to confirm further direction.
1-Day relative strength performance Finviz
Based on the graph above I found that on the top of the list we got Ethanol and VIX and on the bottom Lean Hogs and Canola.
Gold is positive on the list but with no strong momentum.
Key Levels:
Resistance: $1,890
Support levels: $1,850
