16.03.2020 XAUUSD Analysis

16.03.2020 XAUUSD Analysis On the fourth trading day of the week, it was observed that the global markets had a sharp decline with the effect of coronavirus, while Gold was under pressure from sales as a result of collateral calls, it was followed that it deepened its downward movement at the end of the day. On the last trading day of the week, after the downturn in the global markets on Thursday, sales in Gold continued to meet the cash needs. Technically, it was observed that the ounce of Gold continued to be decisive at the level of $ 1529. In the event that ounce of Gold continues its downward movement with decreasing demand, 1517, 1507 and 1495 levels are the important support levels to follow. In case of a possible upward movement, resistance levels of 1540, 1549 and 1557 can be followed in the short term. [mstock id = "1177"]