XAUUSD 1H - Levels

XAUUSD 19/01/22 1H

Support: 1814 / 1810 / 1806-4 / 1801 / 1797

Resistance: 1819 / 1824 / 1827 / 1830 / 1833

KOGs Bias for the day:

Bullish above 1820 with targets being 1827 and above that 1833

Bearish below 1820 with targets below being 1810, 1806 and below that 1797

Summary:

We’re going to trade with caution today hence why we've given the two scenarios possible. There is a chance we will see some volatility later in the session with the of the inflation numbers. This could push the price of Gold above that 1820 level so we will be anticipating an attempt at our 1833 target area if this happens. We’re trading back inside the previous range with the high being around the 1828 level and the low being 1812. The structure is telling us there is a more downside to come, however, that rejection from supply below yesterday could be a sign for more upside.

So we have the immediate trend which we have shown as well as the long term trend which shows the price can challenge that 1850-55 region which we suggested in the KOG report 3wks ago. If you've been following you'll know KOG has a target at 1833 which we keep missing so we're trading with that in mind.

As always. trade safe.

KOG