Lingrid | GOLD climbs Above 2900 Mark. Potential Long

market has broken above the key level of 2900 and is heading toward higher highs. Looking back, we can see that it previously consolidated around this level, suggesting that the price may move sideways in this zone, forming a range. It appears that the price is positioned to retest the area above the double top and potentially previous month high. I think the price may revisit the resistance zone of 2940-2950. I expect it to break through the upper boundary of the channel and retest the middle of the consolidation zone. My goal is resistance zone around 2942

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Trade active

The price has bounced nicely off the support level, and the market is moving sideways after breaking above the trendline. We can see that the market surged above 2900 with a large bullish candle, indicating that this level holds significant importance. Currently, the market is consolidating, and I think the price break through the consolidation zone during the New York session. However, today's high-impact news could also might pus the price lower, potentially pushing the price back toward the 2880 level. Overall, I expect to see some volatility in the market and continuation of the current trend. My goal is resistance zone around 2940

Lingrid

💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi

🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid

🌎WebSite: lingrid.org

Also on:

Related publications

Lingrid | GOLD under SELLING Pressure. BEARISH Reversal ?

by Lingrid

Lingrid | GOLD Weekly Technical Analysis

by Lingrid

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Lingrid