RLinda ! GOLD-> The price breaks through upwards, but...
Updated
Gold continues to strengthen and at the moment the bulls' onslaught on the 1879 resistance zone is breaking it. Gold is forming a momentum towards 1900
The upside potential to the channel resistance zone is open. At this point, we are locking in a strong bullish trend.
Until the price has tested the resistance and there is no reaction, it is hard to talk about anything but a technical pullback from the 1890-1900 resistance zone.
In the near future I expect to reach the target in the form of the upper boundary of the ascending range. Next we need to watch the reaction of the price. We should expect a pullback after the resistance zone is touched or after a false breakdown. In the case of pullback our targets will be 1890, 1880, 1870.
Regards, R.Linda!
The upside potential to the channel resistance zone is open. At this point, we are locking in a strong bullish trend.
Until the price has tested the resistance and there is no reaction, it is hard to talk about anything but a technical pullback from the 1890-1900 resistance zone.
In the near future I expect to reach the target in the form of the upper boundary of the ascending range. Next we need to watch the reaction of the price. We should expect a pullback after the resistance zone is touched or after a false breakdown. In the case of pullback our targets will be 1890, 1880, 1870.
Regards, R.Linda!
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