Is the gold price rebound sustainable?

3:03 PM 18 January 2021

Precious metals prices experienced a sharp pull-back during the Asian trading hours. However looking at the H4 interval, the gold price rebounded and there is an opportunity to uphold upward correction. The nearest resistance to watch lies at $1849 nad it is marked with the upper limit of the 1:1 structure. Should the break above occur, the bears will need to pay attention to the $1860 resistance which is marked with the previous price reactions.

GOLD H4 interval. Source: xStation5

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