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Gold bears unable to break below the 200-SMA – GOLD Market Outlook – 26/01/2021


Gold failed a tat short from reaching our second resistance target at 1870 despite a drop in the US10Y as investors sought refuge in the greenback after the US stimulus package got delayed with Senate Majority Leader Schumer saying aid is unlikely before Mid-March. 1850 support level, coinciding with 200 period SMA is the line in the sand to direct today’s session as investors await for reassurance from the Federal Reserve first policy meeting in 2021.

Support: 1850 / 1840
Resistance: 1860 / 1870

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/gold-bears-unable-to-break-below-the-200-sma-gold-market-outlook-26-01-2021
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