FX.co - Analysis of Gold for January 13,.2022 - Watch for potential breakout of $1.831

2022-01-13T12:48:47

Relevance until2022-01-14

Technical analysis:

Analysis of Gold for January 13,.2022 - Watch for potential breakout of $1.831

Gold has been trading sideways at the price of $1,824 and there is potential for the upside breakout of key resistance at $1,831.

Trading recommendation:

Due to market contraction and sideways movement, I see potential for the breakout regime.

Watch for buying opportunities oif the price breaks the pivot at $1,831 with good momentum.

Upside objectives will be set at $1,840 and $1,848

Support level is set at the price of $1,814

The short-term trend is upside....

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for January 13,.2022 - Watch for potential breakout of $1.831