FX.co ★ Gold analysis for January 28,.2021 - Watch for the selling opportunties on the rallies with the target at $1.810

• initial jobless claims 847K vs. 875K estimate. Prior month 900K revised higher to 914K
• four-week moving average 868K vs. 851.7 5K revised number from last week
• continuing claims 4771K vs. 5088K estimate. Prior month revised to 4974K from 5054K previously reported

Analyzing the current trading chart of Gold, I found that Gold got potential for the further downside movement and test of $1,810.

Watch for selling opportunities on the rallies using the short-term frames like hourly and 4h time frames with the potential downside target at $1,810

Stochastic oscillator got fresh bear cross, which is another indication for further downside.

Key Levels:

Resistance: $1,849

Support level: $1,810