GOLD → Consolidation for continued growth. 3025?

is consolidating between 2981 - 2993. After strong growth there is no hint of a possible reversal, and consolidation above the channel boundary indicates readiness to continue growth

GOLD → Distribution phase. One step away from $3000. Up!

The gold price remains below the record $3,005 but is supported by the trade war, geopolitical tensions and expectations of Fed policy easing. The escalating US conflict with Yemen, the escalation in Gaza and possible talks between Trump and Putin are boosting demand for defensive assets. China's stimulus is also supporting prices. U.S. retail sales data may influence the dollar and further gold movement, but investors are cautious in anticipation of the Fed meeting.

Resistance levels: 2993, 3008
Support levels: 2891, 2956

Consolidation is being formed, regarding which, against the background of the bullish trend, two strategies can be considered:
1) resistance breakdown and consolidation above 2993 with the purpose of growth continuation
2) false breakdown of support 2981 and further growth after liquidity capture.

Regards R. Linda!

Trade active

Note

In the current market we should wait for a pullback to local but strong support levels and work out false breakdowns in order to continue growth

Note

The market is aggressively bullish and at the moment there is no data on how deep the correction (pullback) may be.
It may not be and the price may continue to grow, in which case there may be no entry point.

On the background of a strong trend, an entry point can be sought only in the following cases:
Rollback to support:
A sharp approach to support, a false breakdown and price consolidation above one of the above support levels may trigger further growth.

Formation of local consolidation in the air. In this case, resistance will be formed, which can be considered for breakdown with the purpose of continuation of the movement.

RLinda

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