RLinda ! GOLD-> Cross ma-50 and ma-200. What can we expect?

2 Mar 2023

Gold is coming out of a bearish wedge at the end of February and forming a 1.6% momentum under the sounds of positive fundamentals for this trading instrument. What's next?

At the moment a technical pullback to the 1831 area (strong support level) is forming after the growth. It is worth paying attention to the interesting and strong signal from the crossing of the 50-hour and 200-hour moving average - here we get a bullish signal, which tells us about the possible recovery of the global trend.
In the meantime, the price is under pressure and if 1831 can't hold the price, the 1823 area will do the trick.

I expect the futures price to continue rising in the near future. The signal for entry may be the fixation of the price either above 1831.89 or the testing of the 1825 area. The short-term target is the resistance of 1845.

Regards, R.Linda!

3 Mar 2023

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