empty
 
 
18.01.2021 04:26 PM
Analysis of Gold for January 18,.2021 - Potential reversion to the mean towards $1.863

S stock and bond markets are closed today so trading will be lighter, especially once London clocks off.

Expect continuing US political headlines as Biden nears inauguration on Wednesday. Tomorrow, eyes will be on Trump as he's expected to issue up to 100 Presidential pardons.

Canadian markets are open though and digesting reports that Biden will cancel the Presidential permit for Keystone XL on his first day in office. That's not a surprise but the loonie is the laggard today because of it.

This image is no longer relevant

Further Development

This image is no longer relevant

Analyzing the current trading chart of Gold, I found that sellers got exhausted on the way down at the price of $1,800.

1-Day relative strength performance Finviz

This image is no longer relevant

Based on the graph above I found that on the top of the list we got Lean Hogs and Feeder Cattle today and on the bottom Natural Gas and Lumber.

Gold is one of the relative strength leaders today, which is positive for further rally....

Key Levels:

Resistances: 1,863, $1,922 and $1,957.

Support level: $1,800

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback