Gold price gets a positive signal – Analysis - 23-01-2023

Gold price keeps its stability above 1928.60, noticing that stochastic overlaps positively now, waiting to motivate the price to resume the bullish wave that its next target located at 1950.00.

Therefore, our bullish overview will remain valid for the upcoming period, supported by the EMA50 that continues to carry the price from below, noting that failing to consolidate above 1928.60 will press on the price to test 1900.00 and might extend to 1885.00 areas before any new attempt to rise.

The expected trading range for today is between 1915.00 support and 1950.00 resistance.

The expected trend for today: Bullish