Gold: Weekly Forecast 9th January 2022
Gold came down again after a month-long of upward consolidation but found support at demand level 1787.
The trend is currently still ranging and the price is now trading right in the middle of the entire symmetrical triangle.
This week, we will observe for further support at the demand level 1787 and look for buying opportunity if it holds.
Otherwise, the price could break down and go lower towards the 1767 demand level and we can look for buying opportunities again at the bottom of the symmetrical triangle.
The trend is currently still ranging and the price is now trading right in the middle of the entire symmetrical triangle.
This week, we will observe for further support at the demand level 1787 and look for buying opportunity if it holds.
Otherwise, the price could break down and go lower towards the 1767 demand level and we can look for buying opportunities again at the bottom of the symmetrical triangle.
