REDATOR Ben Graham Posted January 7 REDATOR Report Share Posted January 7 Gold is trading around $4,469, falling after encountering strong resistance around the top of the uptrend channel at $4,499.XAU/USD could continue its fall during the European session towards support at $4,414 (21 SMA). This level could give gold a technical rebound, and we could look for opportunities to take long positions, with a target at $4,500.We must pay attention to the gap left by gold at the beginning of this week at about $4,327. So, we believe that in the coming days, gold could make a strong technical correction and cover this gap.If gold finds good support around 4/8 Murray located at $4,375, it will be seen as an opportunity to take long positions with a target at $4,531.The Eagle indicator is showing a bearish signal, although it is reaching oversold levels, so after a technical correction, the bullish cycle for gold could resume.The material has been provided by InstaForex Company - www.instaforex.com Visitante_9a47a76a 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...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.