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  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.70% FTSE 100: 0.67% France 40: 0.59% US 500: 0.03% Wall Street: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/3K94pQai89
  • Gold holding steady as stocks, dollar remain relatively flat during trade $XAU $USD https://t.co/DOS8MlnGWa
  • The US economy will be in particular focus over the coming days, with the first Federal Reserve rate decision of the Biden presidency and the initial Q4’20 US GDP report on the docket. Get your market update from @CVecchioFX here:https://t.co/IsXHxRNVvv https://t.co/xnYIDGwvDL
  • Germany will not be able to stick to debts limits in constitution for years - Handelsblatt
  • The FTSE 100 has extended its pullback from trendline resistance (stemming from the 2009 low) with the index shedding 0.6% for the week. Get your #FTSE market update from @JMcQueenFX here:https://t.co/ZH3mu1MlEx https://t.co/NHPRYQIVDB
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Gold: -0.01% Oil - US Crude: -0.02% Silver: -0.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ra1oz2gMJz
  • WTI Crude futures settle up 0.96%, at $52.77 - BBG
  • I'm not usually big with head and shoulders patterns but there are conflicting signals in $USD atm. 1st chart here is on h4 and it's a h&s with neckline ~ 90. 2nd chart is on h8, and its an inverse h&s with neckline ~ 91. Given calendar, a break this week can def happen. https://t.co/EuuD7kFDVP
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in GBP/JPY are at opposite extremes with 66.31%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/lXqkGmTKFc
  • Today was the 'quiet' session of the week with only a few high profile indicators on tap. The high profile fundamental themes start up in earnest tomorrow (including the IMF's WEO). We will see how speculative charge for the likes of GME competes with global growth forecasts
Gold is Vulnerable on Channel Break

Gold is Vulnerable on Channel Break

Jamie Saettele, CMT, Sr. Technical Strategist

4Hour

eliottWaves_gold_1_body_gold.png, Gold is Vulnerable on Channel Break

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader?

Commodity Analysis: “Gold’s rally reversed gains after running into former lows and channel resistance. Gold’s advance is better than silver’s, which remains extremely depressed. Daily RSI on the metal has recovered to 60, a common area for the indicator to stop in a bear market.”

Commodity Trading Strategy: Triggered short at 1312, 1355 stop, targets 1270 and 1250

LEVELS: 1267 1282 1306 1315 1350 1395

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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