Market Analysis of GOLD on Wednesday 25 January 2023

Gold Intraday: watch 1949.00.

Pivot:

1927.00

Our preference:

Long positions above 1927.00 with targets at 1942.00 & 1949.00 in extension.

Alternative scenario:

Below 1927.00 look for further downside with 1921.00 & 1916.00 as targets.

Comment:

The RSI calls for a bounce.