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Gold Price Predictions Technical View January 2018

Gold Forecast

Gold Price Predictions Technical View January 2018

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In our last analysis, we expected bullish rally towards a 1351-55 level, The price moves exactly according to the expectations and reverse back from 1346 which is slightly lower price than expected.In the today gold price predictions technical view we will look for the possible next gold movement.

I am sharing a weekly and daily technical overview and their charts below.

 

Weekly Gold Price Predictions Technical View

The gold hits near to its resistance level and made a high around 1346 which is the little bit lower than our expectations.

The resistance was 1351-55. This weekly closing indicating a bearish move for the correction and it may touch 1301-03 level before a new high. We will look for the buy entry from 1301 towards possible new high.Movement above 1355 will give us confidence towards our longer-term gold target 1399-1401 level.

Please have a look at daily and weekly time frame chart below, I have mentioned possible movement diagram and correction levels for better understandings.

Weekly Gold Price Predictions Chart

Weekly Gold Chart 18th January 2018

 

Daily Gold Price Predictions Chart

Gold Price Predictions Technical View

 

XAUUSD Support & Resistance Levels

XAUUSD Support Zone : 1301-03

XAUUSD Resistance 1 : 1351-55

XAUUSD Resistance 2 : 1399-1401

 

Wish you good luck and happy trading

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Feel free to comment below if you have any concern regarding charts and analysis.Your feedback is always welcome and helps us to improve.

Wish you good luck and happy trading with Gold Technical Analysis

Mati Ur Rehman 

Gold Analyst @ Dailygoldanalysis.com

Mati

Mati Ur Rehman is a forex trader having 11 years experience in the field and knows as a technical analyst. He is an expert in XAUUSD Gold Analysis.

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