Baxia Markets
January 26, 2022

Gold continues uptrend and hits two month high

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The precious metal is on a general uptrend since mid-December, it has found several pullbacks along the way, but the overall trend continues, the price just broke a resistance level at $1,840 and could potentially reach $1,860 in the short to mid-term.


The Bollinger bands are opening up aggressively, which would allow the price to continue the uptrend but not very aggressively as the upper band would restrain the price from going any further. The pair trades closer to the upper band, suggesting that the price is relatively high, there is still some room tho.


Gold Jan 24th 2022


The relative strength index is at 63% which would allow the pair to continue its upward trend a bit more before finding a pullback. The short and long-term moving averages continue following the price line, indicating that the price would rise.


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