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15.04.2021 01:08 PM
Analysis of Gold for April 15,.2021 - Big pivot resistance at $1.748 on the test. Watch for downside rotation

Germany March final CPI +1.7% vs +1.7% y/y prelim

Latest data released by Destatis - 15 April 2021HICP +2.0% vs +2.0% y/y prelimThe preliminary report can be found here. No change to the initial estimates as this reaffirms stronger price pressures seen last month, largely due to base effect adjustments

Further Development

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Analyzing the current trading chart of Gold, I found that Gold reached the important pivot level at $1.748.

My advice is to watch for selling opportunities on the rallies with the downside targets at $1.740.

Stochastic oscillator is showing overbought condition with potential for the downside rotation.

Key Levels:

Resistance: $1.748Support level: $1.740

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