ECB’s Lane: PEPP and TLTRO programs very good match for pandemic conditions

More hints from Lane that the re-calibration will focus on those programs

  • Important not to infer that ECB only looking at PEPP and TLTRO
  • Says not growing more worried about inflation tdue to recent negative readings, big drops this year will partly reverse
  • Vaccine reduces chance of more severe economic scenario
  • Aims to keep financing conditions “where they are these days”

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Further Development

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Analyzing the current trading chart of Gold, I found that the buyers are in control today on the Gold market and that there is still chance for upside movement towards $1,850 (strong pivot level)

My advice is to watch for buying opportunities on the dips with potential upside target at the price of $1,850.

Stochastic oscillator on the 4H time-frame is overbought and you should probably wait for the correction and then buying opportunities…

1-Day relative strength performance Finviz

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

Key Levels:

Resistance: $1,850

Support levels: $1,816 and $1,765

The material has been provided by InstaForex Company – www.instaforex.com

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