RLinda ! GOLD-> Is a pullback to the 1900 area possible?

8 Feb 2023

Gold gives us a hint for growth, A stop in the 1870 zone and a break of the local resistance can promise a rise to the strong 1900 zone, what to expect from the price?

Gold is coming out of a consolidation. There are similarities with the scenario from early January. The price breaks through the 1879 line and forms a momentum, testing the high of 1886. There is a chance that gold will soon make a pullback to the previously broken line.
The price gets support from MA-50 and breaks through the bollinger line, which might also be a signal.

I expect the price consolidation in the long zone (above the area of 1880 with the following continuation of growth to the base of the uptrend - support 1900

Regards R. Linda!