GOLD continue to move as part of the growth and the downward channel. At the time of the publication of the forecast, the price of GOLD is 1806 Dollars per Troy Oz. Moving averages indicate a short-term bearish trend. Prices broke through the area between the signal lines upward, which indicates pressure from buyers of the asset and a potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a rise and test the resistance level near the 1810 area. Where can we expect a rebound down and a continued fall in the price of GOLD with a potential target below the level of 1875.
XAU/USD Forecast and GOLD analysis January 12, 2022
An additional signal in favor of falling XAU/USD quotes will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the option of falling GOLD prices on January 12, 2022 will be a strong growth and a breakdown of the level of 1825. This will indicate a breakdown of the resistance area and a continued rise to the area above the level of 1875. Expect to accelerate the fall in XAU/USD quotes with the breakdown of the support area and closing of the price below 1780.
XAU/USD Forecast and GOLD analysis January 12, 2022 implies an attempt to test the resistance area near the level of 1810. Further, the continuation of the fall in quotations with a target below the level of 1875. Cancellation of the option to reduce GOLD prices will be a strong growth in the asset value in the markets and a breakdown of the level 1825. This will indicate a breakdown of the resistance area for GOLD. In this case, we should expect the GOLD price to continue to rise with a potential target above the level of 1875.
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