R.Linda Trading - forecast

GOLD → Correction to previously broken trend resistance

GOLD Forecast
👑 Ideas For XAUUSD / GOLD

📈 GOLD → Correction to previously broken trend resistance


GOLD is declining. Bulls failed to hold the 2050 area, but most likely there is a reason for that: the liquidity zone is near the previously broken resistance, and the geopolitical situation is complicated by additional Fed comments
The dollar index consolidated below 102.6 for a long time and it was logical to realize that the market was unable to go up, until the Fed commented again: "rates should be kept at a high level for some time, it is premature to talk about the beginning of the Fed's rate cut in March". This is logical against the backdrop of the red sea crisis, which is also very much affecting inflation in the world.

BUT. It should be understood that this conflict directly affects the pricing of gold. High probability of appreciation of the asset.

Technically, gold is declining towards the previously broken trend resistance. rlinda. com, The market may be interested in support at 2038.9 - 2032. A false breakdown could form a liquidity grab and a bullish momentum.

Resistance levels: 2050, 2064

Support levels: 0.382 fibo, 0.5 fibo (2038.9), 0.618 fibo

The growth of gold, as a security asset amid the crisis, may continue after the market retests the previously broken trend resistance