FX.co - Analysis of Gold for January 04,.2022 - Breakout of key intraday resistance at $1.808

2022-01-04T15:23:31

Relevance until2022-01-05

Technical analysis:

Analysis of Gold for January 04,.2022 - Breakout of key intraday resistance at $1.808

Gold has been trading upside today and there is the breakout of the key intraday resistance at the price of $1,808.

Trading recommendation:

Due to the breakout of the key intraday pivot at $1,808, I see potential for further upside movement.

Watch for buying opportunities on the pullbacks with the upside objectives at $1,820 and $1,826.

Stochastic is showing overbought condition but with no reversal signal.

Support level is set at the price of $1,805

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for January 04,.2022 - Breakout of key intraday resistance at $1.808