Gold price tests the support base – Analysis - 18-01-2022

Gold price faces difficulty to surpass 1825.15 level, to begin negatively now and test the key support line that rises to 1815.00 now, which makes us prefer to stay neutral until the price manages to surpass one of the mentioned levels followed by detecting its next destination clearly.

Note that breaching the resistance will lead the price to resume the bullish wave that targets 1860.00 areas on the near term basis, while breaking the support represents negative factor that will press on the price to test 1797.00 level initially.

The expected trading range for today is between 1800.00 support and 1835.00 resistance.

The expected trend for today: Neutral