Gold is based on support 30/1/2025

Gold managed to establish strong support above $2740, rebounding higher in the previous session and reaching $2766 per ounce.

Technical Outlook:

• The price remains above the 50-day simple moving average, reinforcing bullish momentum.
• The Stochastic indicator shows positive signals, suggesting further upside potential.

Key Levels to Watch:

• Above $2770: A break above this level may extend gains towards $2778 and potentially $2790.
• Below $2740: A break below this support may signal a bearish reversal, exposing the price to $2725 as the next potential downside target.

Market Risks & Upcoming Data:

• European Central Bank (ECB) monetary policy statement, interest rate decision, and ECB President’s press conference could trigger high volatility in gold prices.

Risk Warning: The market remains vulnerable to geopolitical uncertainties, and all scenarios remain possible.

Disclaimer: Trading in CFDs involves risks, and all scenarios are possible. This analysis is not investment advice but rather an interpretation of the current technical landscape for gold.

S1: 2747.00	R1: 2770.00
S2: 2734.00	R2: 2778.00
S3: 2725.00	R3:  2790.00