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GOLD is Bullish but Watch the Price Action

By:
Nenad Kerkez
Published: Jan 28, 2021, 12:10 GMT+00:00

GOLD is bullish. The weekly candlestick configuration is suggesting a further move up. However, we need to watch the US data today for the exact price movement.

Gold

In this article:

GOLD is bullish. The weekly candlestick configuration is suggesting a further move up. However, we need to watch the US data today for the exact price movement.

1830-35 is the POC zone. We should see a move up according to the trend. Targets are 1845, 1850, 1855 and 1865. However if the market breaks below the 1830 we should see a drop towards 1822 and 1817. At this point the price is bullish but watch for the price action later in the day. Buying the dips is a preferable scenario.

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For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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