Wed, Jan 27, 2021 @ 14:33 GMT
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Gold Analysis: Trades Sideways

The yellow metal has continued to trade almost flat. However, it has started to do so in a different range, as the price has been fluctuating between 1,805.00 and 1,820.00 levels.

In the meantime, the price had began to ignore the 55-hour simple moving average, which could have pushed the price up on Thursday.

In regards to the near term future, the price should trade sideways until either fundamental news cause a move or the price is pushed down by the resistance of the 100-hour simple moving average.

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This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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