Gold analysis 25.01.2022

Gold price resumed its positive trading after the decline it witnessed yesterday, as it consolidated above 1830.00 level, to keep the bullish trend valid on the intraday term, organized within the bullish channel that has positive targets that start by testing the 1860.00 areas.

The moving average 50 supports the expected bullish wave, while the breach of 1830.00 then 1825.15 levels represents a negative factor that will pressure the price to turn to the downside.

The expected trading range for today is between the support 1830.00 and the resistance 1860.00

The forecast trend for today: bullish