Daily analysis of Gold for January 23, 2018

GOLDH4.png

Overview

Gold price begins today’s trading with a calm bullish bias after retesting the previously breached resistance of the bullish flag pattern. This price action supports our bullish outlook for the short term. We believe that the way is open to visit 1,357.50 that represents our next main target. Therefore, we are waiting for more rise today. Please note that breaching the mentioned level will extend price gains to reach 1,375.00 followed by 1,404.00, while holding above 1,321.40 represents the key condition to achieve the expected targets. The expected trading range for today is between 1,325.00 support and 1,350.00 resistance.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Daily analysis of Gold for January 23, 2018

Won't your trader friends like this?
InstaForex
About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Leave a Reply

*