RLinda ! GOLD-> Consolidation - a sign of continued growth
Updated
After yesterday's rally, gold is now in a consolidation format between the 200-hour moving average and the 0.5 Fibo level. A break-up of the resistance opens a new potential
The market now might reduce its volatility a little bit while waiting for the news. Locally, gold has bought out half of the fall in the range, which shows some interest from the buyers even in times of negative fundamentals.
At the moment, the price breaks through the triangle resistance and forms a consolidation above the line. With a successful maneuver, we might see a rise towards 0.618, 0.786 fibo in the near future, and with quite positive nfp data, the price might reach the 1860-1875 area, but if the data is worse, the price might reach the 1800 area quite quickly
It is hard to talk about expectations in the run-up to the news, but locally the situation looks bullish. If the price consolidates above 1833.8 I would expect the growth towards 1839, then towards 1847
Regards R. Linda!
The market now might reduce its volatility a little bit while waiting for the news. Locally, gold has bought out half of the fall in the range, which shows some interest from the buyers even in times of negative fundamentals.
At the moment, the price breaks through the triangle resistance and forms a consolidation above the line. With a successful maneuver, we might see a rise towards 0.618, 0.786 fibo in the near future, and with quite positive nfp data, the price might reach the 1860-1875 area, but if the data is worse, the price might reach the 1800 area quite quickly
It is hard to talk about expectations in the run-up to the news, but locally the situation looks bullish. If the price consolidates above 1833.8 I would expect the growth towards 1839, then towards 1847
Regards R. Linda!
Comment
+140 pips in moment!Trade active
1858 nowComment
Gold reaches the target and renews the high, forming an entry into a new range. The daily candlestick closes in the very high - a signal for the continuation of the movement
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