24.11.202014:42 Forex Analysis & Reviews: Analysis of Gold for November 24,.2020 - First downside target at $1.850 has been reached and Gold is heading towards next target at $1.790

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BOJ's Kuroda: Central bank measures have helped with global pickup

Comments by BOJ governor, Haruhiko Kuroda

Coordination of monetary, fiscal policies were more prompt and comprehensive this time than during the global financial crisis
Swift, abundant liquidity provision from central banks prevented negative feedback loop between economic and financial activities

There is certainly little doubt that central banks intervened in a more timely manner this time around but there will still be questions on what that has done to the "economic fundamentals" of the market. But to central banksters, this is the only pickup that matters:

Further Development

Analyzing the current trading chart of Gold, I found that the Gold reached my yesterday's target at $1,850 and is heading towards the next target at $1,792.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Lean Hogs and Feeder Cattle today and on the bottom Soybean Oil and VIX.

Resistance: $1,821

Support level: $1,792 and $1,760.

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