RLinda ! GOLD-> Price range. Rollback to support 1933

27 mar 2023

Gold stops at resistance of 2000 and goes into a consolidation state, within which a technical pullback to the support area and the 0.382 Fibo level is formed. What's next?

The price declines and goes under the 1980 zone. Consolidation below the level defines the bearish potential. Price has the 0.236 (1963) Fibo level ahead and if this area is broken, price will go down to 0.382 Fibo (1933)
At the moment the trend is still upward, so it is worth paying attention to support levels to find entry points.

I expect growth in the medium term. Technical pullback may lead the price to the area of 1940-1930, also possible false-break of support. The short-term target is support 1933, the medium-term target is resistance 2000.

Regards R.Linda!