REDATOR Ben Graham Posted January 15 REDATOR Report Share Posted January 15 Gold is trading around 4,612 under bearish pressure. In recent trading, gold has been consolidating around 4,630. Currently, XAU/USD is above the 21 SMA at 4,607, which means that if there is a sharp break below this zone, we could expect a sharp fall in gold, which could reach 4,571 and finally 5/8 Murray and 4,531.If gold consolidates above 4,625 in the coming hours, the outlook could remain bullish, and it could reach the 6/8 Murray at 4,687.According to the H4 chart, gold is showing signs of exhaustion, so a sharp technical correction towards 4,531 is more likely in the coming hours, and the instrument could even cover the gap left at the beginning of the week around 4,515.A sharp break below the uptrend channel and consolidation below 4,531 could accelerate gold's decline, and it could fall to the 4/8 Murray at 4,375, which represents strong support, and could even cover the gap left around 4,327.The Eagle indicator is showing a negative signal, so we could look for opportunities to sell in the coming hours below 4,625-4,615 and below 4,607.The material has been provided by InstaForex Company - www.instaforex.com Visitante_29b4efba and Visitante_1ddc6b87 1 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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