The price of gold dropped slightly on Wednesday, while markets were waiting for the U.S. Congress to adopt a $2 trillion support package to mitigate the coronavirus outbreak. U.S. senators and officials of the U.S. Presidential Administration Donald Trump reached an agreement on a massive stimulus package, said Wednesday the White House spokesman Eric Ueland.
Pivot: 1608.00
Provided that the price is below 1620.00, please follow these recommendations:
In case of breakdown of the level 1620.00 and the consolidation of the price above this level, follow the recommendations below:
Gold during the day: currently there is a short-term consolidation on the market. While 1620.00 remains a resistance, the rate is expected to return to 1585.00.
| Resistance | Support |
| 1653.00 | 1585.00 |
| 1643.00 | 1564.00 |
| 1620.00 | 1544.00 |
Pivot: 1618.00
As long as the price is below 1627.00, please follow these recommendations:
In case of breakdown of the level 1627.00 follow the recommendations below:
RSI shows a long-term downtrend.
| Resistance | Support |
| 1627.50 | 1545.00 |
| 1660.50 | 1451.50 |
| 1697.50 | 1365.00 |
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