Midday update for Gold 19-01-2021
Economies.com
2021-01-19 11:11AM UTC
Gold price trades positively to head towards potential test to the most important resistance at 1848.60, and as we mentioned this morning, the price needs to hold below this level to keep the bearish trend active for today, as breaching it will lead the price to return to the bullish track and achieve positive targets that start at 1872.00, while the price needs to trade below 1838.10 again to reinforce the chances of continuing the negative scenario that its next main target located at 1800.00.
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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