15.01.202116:07 Forex Analyse & Reviews: Analysis of Gold for January 15,.2021 - Symmetrical triangle in the creation. Watch for the breakout to confirm further direction

US Dec advance retail sales -1.4% vs 0.0% expected

Prior was -1.1% (revised to -1.4%)

  • retail sales ex auto -1.4% vs. -0.2% estimate
  • retail sales ex auto and gas -2.1% vs. -0.3% estimate
  • retail sales control group -1.9% vs. +0.1% estimate

This is a poor report and the November numbers were revised significantly lower as well.

  • November retail sales ex auto revised to -1.3% from -1.1%
  • November retail sales ex auto and gas revised to -1.3% from -0.8%
  • November retail sales control group revised to -1.1% from -0.5%

So much for that strong Target same-store sales report.

Further Development

Exchange Rates 15.01.2021 analysis

Analyzing the current trading chart of Gold, I found that there is symmetrical triangle in creation and I would watch for the brreakout to confirm further direction....

The breakout of the support at the price of $1,836 will confirm test of $1,819

The breakout of resistance at the price of $1,862 will confirm the test of $1,899.

1-Day relative strength performance Finviz

Exchange Rates 15.01.2021 analysis

Based on the graph above I found that on the top of the list we got Natural Gas and Coffee today and on the bottom Platinum and Sugar.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Uitgevoerd door Petar Jacimovic,
Analytische expert
InstaForex Group © 2007-2021
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