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Gold bulls attempting to recover higher – GOLD Market Outlook – 19/01/2021

SquaredFinancial

Gold printed in a tight range between 1835/1840 support/resistance level in a low volume day as US markets were closed, looking for a breach today in either direction for further clarity with 1825/1850 as support/resistance levels ahead of Janet Yellen’s testimony where she is expected to affirm the US commitment to let the market set the value of the dollar which theoretically should remove tail risk of a stronger dollar, adding to bearish sentiment for a weaker greenback.

Support: 1835 / 1825 / 1815
Resistance: 1840 / 1850 / 1860

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/gold-bulls-attempting-to-recover-higher-gold-market-outlook-19-01-2021
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