Gold analysis 26.01.2022

Gold price resumed its positive trading noticeably yesterday, reinforcing the expectations of the continuation of the bullish trend’s dominance, which is organized within the bullish channel that appears on the image, and gets continuous positive support from the EMA50, waiting to test the level of 1860.00, whose breach represents the key to rushing towards 1900.00 barrier as a next major station.

Stability above 1825.15 is important for the continuation of the expected rise, as breaking it will pressure the price to turn to the downside and achieve negative targets that start by visiting 1797.00 areas.

The expected trading range for today is between the support 1835.00 and the resistance 1865.00.

The forecast trend for today: bullish.