- Gold is nearly 2% higher on the session as stocks sell-off and the USD weakens.
- There is a key resistance nearby if the bulls can manage to keep up this momentum.
XAU/USD 4-Hour Chart
On the chart below you can see a big broadening pattern.
Gold is heading to the top of the pattern but there are some levels in the way.
$1,689.40 per ounce is one of those big levels that would need to be broken.
USD/JPY has fallen along with stocks to confirm this is a decent risk-off move.
If the level mentioned above does break then that would take gold to a price not seen since January 2013.
Traders are keeping a close eye on coronavirus headline to keep the bull run going.
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Additonal levels
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