FX.co ★ Gold Price Movement during Covid 19 Outbreak For April 01, 2020

At the 4-hour chart, we see that Gold has a divergence between the price with the CCI (30) and the CCI (30). The metal is now trading below the -100 level. This means the moment is more appropriate for Gold sellers according to the 4-hour chart. Now Gold is still moving in a consolidation area, although there is a possibility for Gold to retrace to $1,596.46 before the price goes down again to reach the $1,552.89-1,552.70 area. As long as Gold does not retrace upwards and breaks out and closes above $1,641.96, the price will aim for $1,552.89-1,552.70.

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