GOLD (XAUUSD) Daily Forecast
This past Friday January 8, Gold sold off from $1917 to $1828 as it broke its daily uptrend.
Bulls stepped in and bought at $1828 where they managed to close the trading day at $1849.81.
The 4 HR candlestick closed with a Piercing Line pattern, which closed around the midpoint of the previous 4 HR bearish candlestick.
Look for bullish continuation to resistance points at $1857.50, $1866.13, $1880.15, and $1895.00.
On the other hand, Gold will breakdown further if bulls cannot hold $1828.65, look for price to retrace further to the next Daily Support at $1819.46.
This past Friday January 8, Gold sold off from $1917 to $1828 as it broke its daily uptrend.
Bulls stepped in and bought at $1828 where they managed to close the trading day at $1849.81.
The 4 HR candlestick closed with a Piercing Line pattern, which closed around the midpoint of the previous 4 HR bearish candlestick.
Look for bullish continuation to resistance points at $1857.50, $1866.13, $1880.15, and $1895.00.
On the other hand, Gold will breakdown further if bulls cannot hold $1828.65, look for price to retrace further to the next Daily Support at $1819.46.
Thank you,
Stock Sniper Trading
Stock Sniper Trading