Dollar keeps steadier so far before Powell's speech
Ichimoku Kinko Hyo AUD/JPY: The pair is trading above the cloud…
Gold: no rush to the upside
Information is not investment advice
In one of the recent articles, we tried to make a trajectory for the gold price based on the December chart. Well, we were wrong - that's how you reality-check your projections. Gold did not follow the upward channel similar to the one it was in December and got down to 1 845.
That means, the tactical support of 1 825 should be the baseline level for bears to aim at, and 1 875 is the key resistance so far. In the mid-term, a sideways dynamic seems to be the most probable scenario.
Gaspar Markosyan
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