REDATOR Ben Graham Posted January 12 REDATOR Report Share Posted January 12 Gold is trading around $4,575, retreating after reaching the psychological level of $4,600, its all-time high for now.Gold encountered strong resistance around $4,600. From this level, we are seeing a technical correction that could continue in the coming hours and reach the 5/8 Murray at $4,537, ultimately covering the gap left at the close of Friday's session around $4,511.This strong upward momentum in gold is due to market fears and uncertainties, so we should be very careful, as we could see a sharp rebound in gold in the coming days, reaching the 6/8 Murray around $4,687.If gold falls below $4,531, we could expect a bearish acceleration, and the instrument could reach $4,473 (21 SMA), a key level that could be seen as a point for a technical rebound, or around the bottom of the uptrend channel located at $4,465.The Eagle indicator is showing a positive signal, so we will look for opportunities to buy in the coming days, but first, we should expect a technical correction in the coming hours towards the 5/8 Murray support or the 21 SMA. Both levels could be seen as a good point to open long positions.Let's remember that gold left a gap around $4,510 and another at $4,327. A sharp drop in gold could develop in the coming days, and gold is likely to reach levels of $4,300.The material has been provided by InstaForex Company - www.instaforex.com Visitante_a0320e6a 1 1 Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Liked! × 💬 Did you like this content? Your feedback is very important! Liked! Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Quote Link to comment Share on other sites More sharing options...
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