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Gold price attacks the support – Analysis - 25-01-2024
Gold price ended yesterday negatively below 2016.90 level, to hint heading to achieve additional bearish correction in the upcoming sessions, supported by the negative pressure formed by the EMA50, but we notice that the price attempts positively by today’s open, motivated by stochastic positivity, to face contradiction between the technical factors that makes us prefer to stay aside until the price confirms its next destination clearly.
Note that holding below 2016.90 will push the price to head towards 1977.46 as a next correctional target, while breaching 2025.80 will stop the current negative pressure and push the price to recover and target 2065.70 areas mainly.
The expected trading range for today is between 2000.00 support and 2035.00 resistance.
The expected trend for today: Neutral
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