Gold price resumes the rise – Analysis - 24-01-2023

Gold price kept its stability above the intraday bullish channel’s support line, starting today with new positivity to move away from this support, reinforcing the expectations of continuing the bullish trend on the intraday and short term basis, and the way is open to achieve our waited target at 1950.00.

The EMA50 continues to provide the positive support to the suggested bullish wave, which will remain valid conditioned by the price stability above 1925.00.

The expected trading range for today is between 1920.00 support and 1955.00 resistance.

The expected trend for today: Bullish