FX.co - Analysis of Gold for January 27,.2022

2022-01-27T13:47:18

Relevance until2022-01-28

Technical analysis:

Analysis of Gold for January 27,.2022 - Strong downside momentum

Gold has been trading downside in the background and I see potential for further drop.

Trading recommendation:

Due to the breakout of the key support at the price of $1,806 with the good momentum, I see potential for further drop.

Watch for selling opportunities on the rallies and continuation al pattern using the intraday chart.

Next key downside objective point is set at $1,785-$1,782

Resistance is set at $1,809

*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 27,.2022 - Strong downside momentum