Gold Is Bullish But Watch The Price Action

Analyst, Full-Time Trader • Jan 28, 2021 at 10:20 AM EST

Gold is bullish. The weekly candlestick configuration is suggesting a further move up. However, we need to watch the US data today for the exact price movement.

1830-35 is the POC zone. We should see a move up according to the trend. Targets are 1845, 1850, 1855 and 1865. However, if the market breaks below 1830 we should see a drop towards 1822 and 1817. At this point, the price is bullish but watch for the price action later in the day. Buying the dips is a preferable scenario.

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