GOLD → The market bought back the fall by 30%

8 May 2023

Gold forms the strongest shakeout, but at the same time, closes the week at +1.35%, which is a good signal. What to expect from the price in the near term?

The price tested the support last week, probably because the published fundamentals were good for the whales and the big companies, which should have time to buy at a better price.
Gold is recovering and testing the key zone, 2025. A pullback might occur from 2025, but if the gold breaks through 2025, it will go to 2032.
A retest of the level will determine the fate of the price, but in the medium term gold looks good for buying.

Strong resistance: 2025, 2032
Strong support: 2020, 2010
I expect the price may be stuck in consolidation between 2025 and 2020, or 2032-2020. After a strong shakeout, price needs to gather energy to move further in one direction or the other.

Regards to R. Linda!