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R.Linda Trading - forecast

Trading signals for #GOLD → the price is practicing the "Wedge" pattern

2023-06-12 10:47 GOLD Forecast

Gold breaks the wedge resistance, prolonged consolidation above this figure forms a good momentum which can be used to open long positions.

The price has consolidated above the descending wedge resistance for quite a long time. Since the session opening on Monday, we see a false break-down of 1954 and bullish momentum towards 1965.

The market makes a retest to the resistance. If this boundary is broken down, we might see a good rally to the 1984 global range resistance.

The moving averages act as support and form a bullish signal.

Strong support: 1960, 1954.

Strong resistance: 1965, 1970

I expect bulls to be able to hold the 1965 area, after which we will see an increase to 1984

R. Linda

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