GOLD - High probability of correction formation

2023-03-23 10:41 GOLD Forecast

Gold forms a strong rebound from the support zone , the base of which is the level of early 2022. The price is testing the base of the reversal pattern, but it makes a false-break. What to expect next?

GOLD is in an uptrend, I believe that the price under a strong uptrend resistance, after quite a strong recovery, can go to a technical pullback, correction and consolidation phase before continuing to the long-term target of 2070.

I now expect a short correction from 1978.9 towards the Fibo level of 0.382 (1933.68).
The medium-term potential is still for the bulls.

R. Linda

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