Daily GOLD Forecast – 5.1.2024

GOLD Signals TEAM January 5, 2024 GOLD Forecast

Anticipates a potential correction, testing support around 2025. Expects ongoing growth in non-ferrous metal prices targeting above 2155. Failure to raise Gold prices will result in a market fall and a breakdown of the 2005 level, signaling a further decline with a potential target below 1965.

🟨 Daily GOLD Forecast – 16.1.2025

An additional signal supporting the potential decrease in XAU/USD prices is the test of the resistance line on the RSI indicator. Another bearish confirmation comes from the price rebound at the upper boundary of the descending channel.

Key Levels:

A strong rise above 2725 will invalidate the bearish outlook, signaling a breakout of the resistance zone and a potential rally toward 2775.
Conversely, breaking below the 2605 support and closing below it would confirm the breakdown of the lower border of the "Triangle" pattern, accelerating the decline with targets below 2585.

Potential Scenario:
Before the decline continues, a brief bullish correction may occur, testing resistance near 2695. If the correction fails to sustain momentum, prices are expected to resume their fall, targeting levels below 2585.

Reversal Signal:
A breakout and consolidation above 2725 will suggest sustained upward movement, with a potential rally exceeding 2775.

Posted: January 16, 2025 at 12:52 pm

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Daily GOLD Forecast – 5.1.2024

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