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17.11.202014:14 Forex Analysis & Reviews: Analysis of Gold for November 17,.2020 - Contraction on the GOld with potential for the breakout

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EU governments reportedly not ready for common virus testing procedures for travel

Reuters reports, citing a EU document on the matter

This is a bit of a blow to airlines and the leisure sector as there is said to be divisions among EU states on the use of rapid antigen tests for travel.

The lack of a common testing procedure will only serve to draw up more discrepancies on what is actually "safe" to allow travel across Europe, with airlines having been pressing for governments to use alternatives to blanket movement curbs.

Ironically, the document was initially labelled as "progress report" but has been renamed because it actually signified a lack of progress instead. Classic.

Further Development

Analyzing the current trading chart of Gold, I found that the Gold is contraction prior to the Retail Saes in US and that there is potential for the news downside wave.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Lumber and Cocoa today and on the bottom Ethanol and Nikkei 225

Key Levels:

Resistance: $1,900

Support levels: $1,850 and $1,828.

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