GOLD continue to move within the correction and the bullish 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 bullish trend. Prices are again testing the area between the signal lines, 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 correction and test the support level near the 1795 area. Where can we expect a rebound upward and a continued rise in the price of GOLD with a potential target above the level of 1835.
XAU/USD Forecast and GOLD analysis January 5, 2022
An additional signal in favor of the growth of XAU/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option for GOLD prices on January 5, 2022 will be a fall and a breakdown of the level of 1775. This will indicate a breakdown of the support area and a continued fall to the area below the level of 1735. Expect to accelerate the growth of XAU/USD quotes with the breakdown of the resistance area and closing of the price above the level of 1830.
XAU/USD Forecast and GOLD analysis January 5, 2022 implies an attempt to test the support area near the level of 1795. Further, the growth of quotations with a target above the level of 1835 will continue. This will indicate a breakdown of the support area for Gold. In this case, we should expect the GOLD price to continue to decline with a potential target below the level of 1735.
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