26.01.202114:44 Forex Analysis & Reviews: Analysis of Gold for January 26,.2021 - Breakout of the MIni Pitchfork channel and potetnial for the drop towrads $1.814

Italian prime minister Conte offers resignation to president - Corriere

This is very much expected as mentioned earlier here. The question now is will he be able to form a viable coalition to return back to the helm. Otherwise, fresh elections certainly isn't out of the realm of possibilities at this stage.

Update: A statement from the president's office has confirmed Conte's resignation. Consultations with political parties to resolve the crisis will begin tomorrow.

Further Development

Exchange Rates 26.01.2021 analysis

Analyzing the current trading chart of Gold, I found that the sellers are in control today and there is the breakout of the Mini Pitchfork channel, which is good indication for the further downside.

Watch for selling opportunities on the rallies wit the downside targets at the price of $1,835 and $1,814.

Key Levels:

Resistance: $1,867

Support levels: $1,835 and $1,814.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Petar Jacimovic,
Analytical expert
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