1.3 Technical analysis of short-term gold operations

٣ يناير

In the early European session on Friday (January 3), the US dollar index maintained a mild decline during the day and is currently around 109.10; spot gold is around $2,655/oz.

After confirming a breakthrough of $2,640.00/oz, the gold price continued to rise. As shown in the figure, the gold price completed the construction of a double bottom pattern, which provided upward momentum for the gold price. The gold price is expected to test $2,700.00/oz, which is also our next target for the gold price.


Therefore, we expect the gold price to rise further in the next few trading days. It should be pointed out that if the gold price falls below $2,640.00/oz, this will stop the bullish trend and push the gold price to bearish.



It is expected that the gold price will trade between the support level of $2,650.00/oz and the resistance level of $2,685.00/oz today.



The expected trend for the gold price today is bullish

٣ يناير

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