Gold Buyers Show Resilience Despite Their Recent Losing Streak
Login

Gold Buyers Show Resilience Despite Their Recent Losing Streak

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Market Analysis – January 18th

Gold buyers show resilience despite their recent losing streak. Gold continues to defy expectations as buyers remain in control of the market. Despite experiencing a losing streak in the past few days, gold is ready to bounce back.

The buyers have displayed remarkable resilience, refusing to back down. The bears exerted their strength, pushing the price down to the critical level of 2002.780 a few days ago. However, the buyers are determined to return to action and regain control.

Gold (XAUUSD) Key Levels

Resistance Levels: 2153.400, 2085.450
Support Levels: 1856.630, 1809.000

Gold Buyers Show Resilience Despite Their Recent Losing Streak

Gold (XAUUSD) Long-Term Trend: Bullish

Despite a decline in momentum since the beginning of the year, gold remains in a bullish trend. The Bulls have been active since last year and are eager to maintain their momentum. They have been pressing forward since October of last year, with their intensity escalating up to the significant zone of 2085.470.

However, the sellers staged a comeback at the start of the new year, causing a temporary setback for the bulls. Currently, market volatility is relatively low, which explains why the Bollinger Band indicator is not well spread out.

With the gradual compaction in market volatility, it may take some time for the bulls to make further progress. The momentum indicator has slid below the 0.00 level, indicating that the buyers are making gains but still lack a strong impulse.

Gold Buyers Show Resilience Despite Their Recent Losing Streak

Gold (XAUUSD) Short-Term Trend: Bullish

On the short-term trend, the bulls are also making a comeback after their fightback. It may take some time for their response to balance out, but they are bound to take charge soon.

You can purchase Lucky Block here.  Buy LBLOCK

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News