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R.Linda Trading - forecast

GOLD - Retest 2000 with the possibility of a breakout

2023-03-24 11:18 GOLD Forecast

Gold , after a false breakout earlier in the week, bounces back to 0.382 Fibo where it completes the technical pullback. Gold recovers and retests the resistance and liquidity area of 2000.

Price makes a reversal move and forms a quick retest of the 2000 resistance area . There is a high probability of a breakout of this area.
The fundamentals this week are quite positive and gold may close the weekly session in the green zone.

I expect consolidation near the 2000 level and with the possibility of a breakout of this area. The short-term target is resistance 2010, 2020. Medium-term potential remains in the form of reaching 2050 and 2070

R. Linda

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