GOLD → Price is confirming the flat. Emphasis on 2905 for FX:XAUUSD by RLinda

GOLD → Price is confirming the flat. Emphasis on 2905

within the 2% correction that happened on Valentine's Day confirmed that one should not fall in love with the market. Technically the market is still bullish, the price is inside the range of 2880 - 2940

Investors are waiting for the meeting between Trump and Putin, which may influence the Russian-Ukrainian conflict and reduce geopolitical risks.
Additional support for gold is provided by expectations of Fed rate cuts after weak US retail sales data. At the same time, the markets are watching the escalation of the tariff confrontation between the US and the EU. High volatility is possible in the coming days due to holidays in the USA and speeches of the Fed representatives
The key figure is the ascending support, relative to which a false breakdown and the range of 2880 - 2940 is formed. If the price holds in the buying zone, under the bullish support, we can still see the growth.

Resistance levels: 2904.7, 2922.6
Support levels: 2893, 2880

A pre-breakdown consolidation is forming around 2904.7. If the resistance is broken and the bulls can keep the defense above this zone, the gold may continue its strengthening. I do not exclude a retest of the support at 2893 - 2880 before further growth.

Regards R. Linda!

RLinda

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