R.Linda Trading - forecast

GOLD → Retest of resistance inside the range at the downtrend

GOLD Forecast
👑 Ideas For XAUUSD / GOLD

📈 GOLD → Retest of resistance inside the range at the downtrend


GOLD continues to consolidate in the range of 2035-2020. It is likely that tomorrow's news may revitalize the market
GOLD → Global trend is neutral, local trend is downward
Today the market continues to stand still, this can be seen in both the dollar and gold. Consolidation continues as the market is still uncertain with the future outlook, this could continue until tomorrow as tomorrow's news is Initial Jobless Claims, GDP, and the strength of these factors could determine the medium term outlook.

Technically, GOLD is still in consolidation, but within a downtrend. For now, we continue to emphasize the in-range trading strategy (buy and sell from consolidation boundaries or strong levels). Let me remind you that the global trend is neutral and this is an ideal nuance for intra-range trading. And the local downtrend indicates the approximate market mood.

Resistance levels: 2035, 2038, 2039.4

Support levels: 2025, 2020, 2018

A false break of support defines a local target in the form of resistance. A test of range resistance can form a sell signal. As long as the price does not break the trend or the range boundary, trading within this framework will continue