R.Linda Trading - forecast

GOLD → Retest of 2050. Can the price go even higher?

GOLD Forecast
👑 Ideas For XAUUSD / GOLD

📈 GOLD → Retest of 2050. Can the price go even higher?


GOLD is breaking through strong resistance and testing the 2050 area, favorably influenced by the fundamental background from Thursday. The market is trying to move into a bullish phase, but globally the price is held back by a huge sideways flat
On H4 we see the price trying to form a consolidation above the previously broken trend lines of resistance. Support at 2041 is now playing an important role. Since the opening of the session on Friday, gold tested this area with a false breakdown, after which a bullish impulse was formed and XAU is already testing the resistance 2048. A break of this area will confirm the price going beyond the correction, which may help the upside to 2057-2060. But, a correction from 2048 is possible before a further rise to the above targets, and we should also pay attention to today's news. It is necessary to watch the price reaction to this zone.

Resistance Levels: 2047.8 - 2049, 2057

Support levels: 2044, 2041

I expect the growth to continue, because both technically and fundamentally, the market is pointing to it now. But, there may be a fall in the price if the structure of 2044-2041 is broken. In this case, the price may head towards the channel support