Today's View on Gold by Money life Research

[moneyliferesearch]

- In yesterday's trading session, precious metal Gold fluctuated relatively little, the price revolved around 1813-1823. Closing the day with a bullish green candle, but this candle does not reflect much when the upward force is not too strong. So in my personal opinion we can trade Gold within its cumulative range.
- We can establish a long position with Gold around 1813-1815 and take profits when approaching the 1828-1830 price zone and wait for Gold's price reaction there.

 

[moneyliferesearch]

Prediction on Gold on January 20, 2022:

- In yesterday's session, precious metal Gold went right as analyzed when the price bounced up beautifully from 1810 to 1843 ($33), closing the day session with a strong bullish candle around 1839. With such a remarkable increase, Gold's uptrend is no longer controversial, the price has officially broken the strong resistance area of 1828-1834 to go up as expected.
- In my personal opinion, in today's trading session, we continue to maintain our preferred option to buy when the price returns to around 1835. This is the closest support zone to the precious metal Gold for us to have. can establish a long position with a safe target of 1843-1845. Here we will wait for the next signal.

 

[moneyliferesearch]

- After bouncing up to 1847 precious metals Gold fell to 1836, closing yesterday's session with a falling doji candle. The fact that Gold cannot break through 1847 and close with a bearish candle shows that it is likely that after a strong rally, Gold is trying to accumulate a slight correction to bounce back in the near future.
- In the beginning of today's session, I expect Gold to correct further and retest the 1830-1834 threshold, this is the area where the Gold price broke out on Wednesday. Here we can establish a long position in precious metal Gold with a safe target around 1843-1845.

 

[moneyliferesearch]

Gold has the same CHART as yesterday. It seems to us that GOLD is waiting for FOMC MEETING UPDATES. Anyway, according to the analysis we provided, there are currently 100 PIPS UP. But with a big RESISTANCE AREA the GOLD price is holding up without letting up. Somehow the GOLD price seems to be going up to 1860 LEVEL PRICE ACTION WISE. We are waiting to see how GOLD REACT FOMC UPDATES.