RLinda Trading

Professional trader with more than 12 years of experience in Forex, gold and cryptocurrency markets, including work with various exchanges, brokers and market makers, a large amount of theoretical and practical knowledge. With these capabilities in mind, we offer you the best signal provider service. Best forex signals, crypto signals and accurate gold signals will allow you to become a winner in trading
R.Linda Trading - forecast

#GOLD → False breakdown of 0.618 and a strong recovery

GOLD Forecast
Gold is in a wide upward price channel. Yesterday's correction spooked many, but gold was moving purposefully toward the channel support. What's next?

It retested the support of the bullish trend and made a false-break of the Fibo level at 0.618, which is a strong enough support.

From the opening of the session we see a confident growth and the price enters a bullish zone regarding the Fibo level of 0.5 and a strong level of 2000.

Consolidation of the price above this level will determine the further potential - growth to the strong upward resistance line (to the area of 2020).

A pullback is possible from the resistance. The zone in which the price is located is quite complex.

Strong support level: 2000 (false breakdown), 1995

Strong resistance level: 2010 (breakdown) 2020-2025, 2030.

I expect a slight rise from the level of 2000 towards the resistance zone 2020-2025. If the area is broken through, the growth will continue to 2050. If the price rebounds, it will form a retest to 2000