AAATrade's Daily Technical Analysis Of XAUUSD - Wednesday, Jan. 18

Jan 18, 2023 at 9:09 AM EST

Today, if Gold manages to hold its price above its support level at $1900, we should expect it to re-test the resistance level at around $1930, otherwise it could drop towards its next support level at around $1875.

Spotlight on Gold.

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The latest daily technical analysis by AAATrade reveals the key support and resistance levels that each of these assets is likely to reach today. Look at the charts and our market analysts’ observations below and gain a fresh perspective on trading.

GOLD

Looking at Gold’s chart, we can see that the precious metal passed the resistance level of $1900’s, reach its peak at around $1928, and then corrected back to just below $1900 before reaching the current price of around $1911.

Today, if it manages to hold the price above its support level at $1900, then we should expect it to re-test the resistance level at around $1930, otherwise it could drop towards its next support level at around $1875.

AAATrade's Daily Technical Analysis of XAUUSD - 18/01/2023

AAATrade Market Research Department.

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