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Gold keeps finding support at the 200-SMA – GOLD Market Outlook – 25/01/2021

SquaredFinancial

Gold hit our short support target at 1850 on Friday, dipping below the 200-period SMA on the hourly chart, only to pick back up as investors continue to weigh surging Covid-19 cases and stricter lockdowns with France the next in line to go into another shutdown within days. All eye’s remain on the Fed’s two day policy meeting – ending Wednesday – as investors look for reassurances of continued support in the form of $120B monthly bond purchases.

Support: 1850 / 1840
Resistance: 1860 / 1870

SquaredFinancial Daily Market Outlook


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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/gold-keeps-finding-support-at-the-200-sma-gold-market-outlook-25-01-2021
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