RLinda ! GOLD-> The price behavior adds optimism
Gold's correction of $50 and almost 2.50% price seems to be over. The price is bouncing off the key support level of 1901 and continues to feel fairly confident
Price is fumbling for a local uptrend support line, which buyers are likely feeling like a solid wall. At the same time, price is in a 1917-1934 consolidation, price has previously worked out the support perfectly and should in fact head towards resistance as a target. There is a chance before momentum to 1934, there could be a pullback to 1917 for a retest, or an extended consolidation above the support line I mentioned.
Gold's confidence strengthens support for our optimism. I expect gold should find strong support in the near term to reach the 1937 consolidation resistance.
Regards, R. Linda!
Price is fumbling for a local uptrend support line, which buyers are likely feeling like a solid wall. At the same time, price is in a 1917-1934 consolidation, price has previously worked out the support perfectly and should in fact head towards resistance as a target. There is a chance before momentum to 1934, there could be a pullback to 1917 for a retest, or an extended consolidation above the support line I mentioned.
Gold's confidence strengthens support for our optimism. I expect gold should find strong support in the near term to reach the 1937 consolidation resistance.
Regards, R. Linda!
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