empty
You are about to be redirected to
www.instaforex.com
The services on this website better suit your location
 
 
Open Account

14.01.202221:31 Forex Analysis & Reviews: Gold's getting rejected for the third time at $1,830.

Company does not offer investment advice and the analysis performed does not guarantee results.
The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

In order for Gold price to continue higher towards $1,860, bulls will need to break above $1,830 as we mentioned in our last analysis. Gold today tested the key horizontal resistance once again and got rejected.

Exchange Rates 14.01.2022 analysis

Red line -resistance

Green line -support

Red rectangle- short-term resistance

Inability to break above $1,830 is a bearish sign. I do not expect to see a fourth rejection at $1,830. If Gold price approaches this resistance area again, I then would expect a break upwards and a move towards $1,860 at least. Until then, Gold price is vulnerable to a move lower towards $1,780 where we find key upward sloping support trend line.

Alexandros Yfantis
Analytical expert of InstaForex
© 2007-2022

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.