Gold price within sideways track – Analysis - 19-01-2023

Gold price moves within sideways track that appears on the chart, confined between 1900.00 support and 1928.60 resistance, and the price needs to surpass one of these levels to detect its next destination targets clearly.

The technical indicators give preference to the continuation of the main bullish trend, noting that breaching the mentioned resistance will push the price to achieve new gains that reach 1950.00, while breaking the support will press on the price to test the bullish channel’s support line around 1870.00 before any new attempt to rise.

The expected trading range for today is between 1890.00 support and 1928.00 resistance.

The expected trend for today: Sideways