Gold Technical Analysis January 16, 2023
The Gold rose 1.30% against the USD on Friday and closed at 1920.50. Today in the European session, while the Gold technical Analysis January 16, 2023, is prepared at 5:15 GMT, the XAU/USD trading at 1919.00, which is 0.07% lower than Yesterday’s close.
The Gold is expected to find support at 1911.00, and a fall-through could take it to the next support level of 1900.00. The pair is expected to find its first resistance at 1928.00, and a rise-through could take it to the next resistance level of 1940.00. Today’s expected trading range is between 1892.00, support, and 1957.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1911.00
Support 2: 1900.00
Support 3: 1892.00
Important resistance levels:
Resistance 1: 1928.00
Resistance 2: 1940.00
Resistance 3: 1957.00