Gold price faces solid resistance – Analysis - 17-01-2022

Economies.com
1 year ago

Gold price finds difficulty to consolidate above 1825.15 level, to trade negatively and test the EMA50 that continues to form solid support against the price, accompanied by witnessing positive signals through stochastic that encourage us to suggest resuming the positive trades again, waiting to breach the mentioned level to confirm heading towards 1860.00 as a next positive target.

 

Therefore, the bullish trend scenario will remain active unless breaking 1813.00 and holding below it.

 

The expected trading range for today is between 1810.00 support and 1840.00 resistance.

 

The expected trend for today: Bullish

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