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Video: Updated Gold Price Analysis for January 2021 – Buying Opportunity for Gold?

Summary:
In the present video, David Jones from Capital.com provides his updated forecast for gold in January 2021, trying to answer the question: whether the recent pullback was a reversal of the bullish trend or a buying opportunity? He starts the video by discussing the recent moves of the yellow metal as well as fundamental factors that were affecting them and will be influencing prices in the future. Next, David lists the major support and resistance levels. He then turns to technical analysis, showing charts, technical indicators, and attempting to predict where prices may go next. In the end, David decides that the pullback was overdone and prices can rebound. He opens a long position, placing a stop-loss at the nearest major support level in case strengthening dollar pushes bullion further

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In the present video, David Jones from Capital.com provides his updated forecast for gold in January 2021, trying to answer the question: whether the recent pullback was a reversal of the bullish trend or a buying opportunity? He starts the video by discussing the recent moves of the yellow metal as well as fundamental factors that were affecting them and will be influencing prices in the future. Next, David lists the major support and resistance levels. He then turns to technical analysis, showing charts, technical indicators, and attempting to predict where prices may go next. In the end, David decides that the pullback was overdone and prices can rebound. He opens a long position, placing a stop-loss at the nearest major support level in case strengthening dollar pushes bullion further down.

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Vladimir Vyun
Vladimir is an online journalist with background in computer science and work experience in pension funds. He contributes news reports, fundamental analysis and sentiment forecasts to TopForexNews.com and CommodityBlog.com. His main specialization is the currencies of emerging economies and inter-market correlations with commodity and bond trading.

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