20.01.202216:16 Forex Analysis & Reviews: Trading signals for GOLD on January 20 - 21, 2022 : sell below $1,843 (6/8)

Esta información se proporciona a clientes minoristas y profesionales como parte de comunicación de marketing. No contiene y no debe interpretarse como asesoramiento o recomendación de inversión o una oferta o solicitud para participar en cualquier transacción o estrategia en instrumentos financieros. El desempeño pasado no garantiza o predice el desempeño futuro. Instant Trading EU Ltd. no asume ninguna representación ni responsabilidad sobre la precisión o integridad de la información proporcionada, o cualquier pérdida que surja de cualquier inversión basada en el análisis, pronóstico u otra información proporcionada por un empleado de la Compañía o de otra manera. El descargo de responsabilidad completo está disponible aquí.

Gold is trading at $1,838, below strong resistance of 6/8 Murray and inside a daily uptrend channel.

On Wednesday, gold made a significant rally causing a break of resistance of 5/8 Murray at 1,828. The metal rallied early in the Asian session to hit 1,844, the highest level since Nov 22, and then began a correction.

Gold's rally seen yesterday was due to lingering concerns about inflation and volatility in yields on US Treasury government bonds.

The daily chart for XAU/USD shows that on January 10, it rose above the 200 EMA and the 21 SMA. The break of these moving averages and the confirmation of the bullish pennant pattern gave gold the momentum it needed to break 1,828 (5/8) and reach 1,843.75 (6/8).

The break of the resistance 5/8 Murray above 1,828 improved the technical picture for the metal. This zone has acted as strong resistance a few times, preventing gold from reaching 6/8 Murray.

Meanwhile, the eagle indicator is giving a bearish signal, although the price of gold is at highs of 1,840. It means that the bullish momentum remains limited, and a correction could occur in the coming days as long as the price remains below 1,843 (6/8).

A break and consolidation above 1,843 on the daily chart could resume the upside move. If that happens, we could expect gold to go up to 1,859 and up to 1,875, the price level of October 2021.

On the other hand, if gold makes a technical correction and trades back below the support zone of 1,808, we could expect an acceleration to the downside towards the 200 EMA located around the psychological level of 1,800.

Support and Resistance Levels for January 20 - 21, 2022

Resistance (3) 1,873

Resistance (2) 1,864

Resistance (1) 1,851

----------------------------

Support (1) 1,831

Support (2) 1,819

Support (3) 1,795

***********************************************************

Scenario

Timeframe H4

Recommendation: sell below

Entry Point 1,843

Take Profit 1,828 (5/8) and 1,812 (4/8)

Stop Loss 1,851

Murray Levels 1,843 (6/8) 1,859 (7/8) 1,875 (8/8)

***********************************************************

Volver a la lista

Abra una cuenta de operaciones

¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.