Gold Analysis 17/01/2023

– W1 has just continued to close a strong bullish candlestick demonstrating the dominance of the bulls during recent times.

– After approaching the 1928 price level, the bulls took a break and the bears took advantage of this time to quickly regain some position, pushing D1 to close the candlestick around 1917.

– Today the market will soon rise again around 1922, where if the H4 timeframe shows a bearish reversal signal, it is likely that the bears will consolidate their position in this area because after 1 wave of attacks, the bulls may need to “rest” for a short time.

Command reference:

Sell 1922

SL 1928

TP1 1915

TP2: 1910


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