Gold price hits the target – Analysis - 28-01-2022

Gold price traded with strong negativity yesterday to touch our waited target at 1797.00 and attempts to break it, to hint heading to achieve more negative targets in the upcoming period, waiting to head towards 1770.00 on the near term basis.

Therefore, we expect the continuation of the negative trades domination today, it might preceeded by some slight positive fluctuation affected by stochastic positivity, noting that the consolidation of 1797.00 level against the negative trades might push the price to test 1825.15 areas initially before any new attempt to decline.

The expected trading range for today is between 1780.00 support and 1810.00 resistance.

The expected trend for today: Bearish