March 16, 2020
By IFCMarkets
The actions of the global central banks reduced the attractiveness of precious metals
The ECB approved a range of financial measures to support the European economy. The US Federal Reserve will provide $ 1.5 trillion of short-term loans to US companies and banks. Similar measures were taken by the Central Bank of Australia, England and other countries. All of this can reduce the risks of a global economic downturn. Against this background, palladium quotes fell by 24% over the week, platinum and silver – by 12%. Gold is still behind and fell by 8%.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Sell | |
| MACD | Sell | |
| MA(200) | Neutral | |
| Fractals | Sell | |
| Parabolic SAR | Sell | |
| Bollinger Bands | Sell |
Summary of technical analysis
| Order | Sell |
| Buy stop | Below 1545 |
| Stop loss | Above 1705 |
Market Analysis provided by IFCMarkets
