Midday update for Gold 08-01-2021
Gold price broke 1900.00 level strongly and test the support base formed at the previously breached resistance at 1890.00, which makes us prefer staying aside until the price confirms breaching one of the mentioned levels followed by detecting the next destination clearly.
Note that breaking 1890.00 support will press on the price to achieve more decline and head towards 1838.10 as a next negative target, while breaching 1900.00 resistance will lead the price to resume the main bullish trend that its next target located at 1970.00.
The expected trading range for today is between 1880.00 support and 1910.00 resistance.
The expected trend for today: Neutral
Reprinted from Economies，the copyright all reserved by the original author.
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