Gold SIDEWAY and correction down next week

✍️ NOVA hello everyone, Let's comment on gold price next week from 01/20/2025 - 01/24/2025

🔥 World situation:

Gold prices dipped late in the North American session but are still on track to end the week with gains of over 0.40%, as markets anticipate the inauguration of US President-elect Donald Trump. Currently trading at $2,701, down 0.44%, the yellow metal remains a preferred choice for investors amid political uncertainty.

Geopolitical tensions and US political developments continue to influence Gold’s performance. Despite steady mid-term US Treasury yields, Gold buyers were unable to drive prices higher for additional gains before the weekend.

🔥 Identify:
Gold hits large-frame resistance 2724, weakens and corrects short-term decline. Market awaits new economic policies of President Trump


🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:

Resistance: $2724, $2748
Support : $2662, $2633


🔥 NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest