Trading signals for GOLD → Price continues to strengthen within the uptrend

2023-05-09 10:59 GOLD Forecast

GOLD regains its fall. Price strengthens to 2025 and breaks the level, the next target is a strong resistance area of 2032.

The trend remains upward and an upward price channel is formed.

Price reacquires the 50-hour moving average as support.

Most likely, the resistance of 2032 will force the price to pull back a bit to the support area, but the medium-term outlook remains the same (bullish).

The key liquidity zone that the asset may seek on the back of the uptrend is the 2040-2041 area.

Strong support: 2025, upward support line

Strong resistance: 2032, 2040, 2047

I expect the continuation of price growth up to the level of 2032 with the subsequent breakthrough and growth of the price up to 2047

R. Linda

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