flag-gb flag-my flag-zh flag-id flag-th flag-vi

Gold recovers after yesterday’s losses

On Friday gold is gradually recovering from the worst day in the US stock market history since 1987. Due to a general panic, the price of gold dipped by 4%.


On Friday the global stock market continues to fall. Heavy losses in the stock market led to a halt in trading on the Japanese Nikkei 225 and South Korean KOSPI. World indices moved to bearish territory. Even the FRS’ decision on an additional infusion of $1.5 trillion could not reassure investors.


Most experts believe that the decrease in gold prices amid a general panic was temporary. In the coming days, the asset will be able to restore previously lost positions, since in the current situation, gold remains the most reliable asset for protection against global risks.


Regarding the chart, bullish signals prevail. In the morning the price falsely broke through the level of 1563.00. This is a strong reversal signal within which we can expect growth of quotations to a minimum of around 1610.00. If this level is broken, the next target will be around 1635.00.


Resistance Levels: 1610.00, 1635.00, 1650.00;


Support Levels: 1563.00, 1550.00, 1542.00.


The main scenario - an increase towards 1610.00.


An alternative scenario - a breakdown of support at the level of 1563.00 and a decline towards 1535.00.


The fundamental outlook is moderately positive. We consider longs from the levels of 1578.00 and 1563.00.

Latest news

Share posts and earn money

2020-09-16 08:29:16

We are launching the long-awaited rewards program for all subscribers of our social networks – share posts with your friends and get money on your FortFS account as a reward! 🥇 The participants will get the following benefits: • Real money for reposts • The reward is available for withdrawal without restrictions • You can […]

No Deposit Bonus 100 USD

2020-08-20 20:43:20

Dear Traders, Make sure to receive $100 on your trading accounts only from the 20th to the 28th of August! No Deposit Bonus 100 USD is the best way to start trading and test all of the Company’s products! GET BONUS The bonus features: Withdrawal of up to 100 USD 75 lots of trading turnover […]