Gold analysis for 18.01.2018

Gold is losing momentum since yesterday trading session. The support rests at 1323.44 with resistance at 1334.04 which the weekly pivot point at 1327.93 is located in between the lines. The EMA of 10 is moving with bearish bias in the ascendant channel but it is above the EMA of 200 and the EMA of 100. The RSI is moving below the 50 level, the Stochastic is showing downward momentum and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal. The price is in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend. Short positions are recommended towards 1309. https://fxglory.com/gold-analysis-for-18-01-2018/