RLinda ! GOLD-> Bullish pattern on D1. What to expect next?
Updated
Gold has been in a consolidation phase for almost a month (since early December) after a strong rise. Gold is headed for strong resistance. What to expect from the 1807 level?
Gold has been recovering quite strongly since early November, but after a strong rally it went into a consolidation phase. It is worth noting here that there is no deep pullback, and we can assume that the growth will continue, but not in the short term. There is a consolidation resistance ahead, from which I expect a pullback.
On the global chart, we see the formation of a "cup and handle" pattern (bullish set-up). The price is in the retest phase of the important 1780-1820 zone. If this zone will be broken upwards, the formation of a strong impulse is possible.
The short-term target on a pullback from resistance 1807 is channel support. The medium-term target is resistance of 1840, 1858.
Regards, R.Linda!
Gold has been recovering quite strongly since early November, but after a strong rally it went into a consolidation phase. It is worth noting here that there is no deep pullback, and we can assume that the growth will continue, but not in the short term. There is a consolidation resistance ahead, from which I expect a pullback.
On the global chart, we see the formation of a "cup and handle" pattern (bullish set-up). The price is in the retest phase of the important 1780-1820 zone. If this zone will be broken upwards, the formation of a strong impulse is possible.
The short-term target on a pullback from resistance 1807 is channel support. The medium-term target is resistance of 1840, 1858.
Regards, R.Linda!
Trade active
🌹TRADING is a CASINO💔!?
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
🧿Web: rlinda.com
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
🧿Web: rlinda.com
Related publications
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.