Gold is waiting for a signal to move 28/1/2025

Negative trading dominated gold’s movements as anticipated in the previous report, reaching the first target of 2735 and recording its lowest level at $2730 per ounce.

Today’s technical outlook suggests the possibility of continuing the downward trend. However, upon closer examination, there appears to be a conflict between technical indicators. The 50-day simple moving average is attempting to push the price upward and form a new bullish wave. On the other hand, the Stochastic indicator continues to deliver negative signals, accompanied by the stability of intraday trading below 2755.

We recommend monitoring price behavior closely, as one of the following scenarios may unfold:

• For a bearish trend to materialize, a break below 2730 is required, which would extend the losses and pave the way directly toward the next targets at 2723 and 2705.
• Conversely, if the price breaches and stabilizes above 2755, it could initiate a new bullish wave, aiming for targets at 2765 and 2790.

Caution: The risk level remains elevated due to ongoing geopolitical tensions, making all scenarios plausible.

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: 2723.00	R1: 2765.00
S2: 2705.00	R2: 2789.00
S3: 2681.00	R3:  2807.00