Gold price is retesting – Analysis - 19-01-2021
Economies.com
2021-01-19 05:23AM UTC
Gold price retested the previously broken support of the bearish pennant pattern and keeps its stability below it, to keep the negative pressure valid for the upcoming period, supported by stochastic and the EMA50 negativity, waiting to head towards 1800.00 as a first negative target.
On the other hand, we should note that breaching 1838.10 followed by 1848.60 levels will stop the negative scenario and push the price to resume the main bullish trend again.
The expected trading range for today is between 1810.00 support and 1850.00 resistance.
The expected trend for today: Bearish
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