GOLD → Consolidation above 2380 will cause a rise to 2400

17 May

XAUUSD is consolidating above the important for the market level of 2378. Bulls are trying to keep the defense above this zone in order to continue growth on the background of weak dollar.

Gold is recovering after leaving the correction channel. The price is once again near its highs (ATH), within the current move the price could quite possibly renew it if the fundamental background does not change next week.
At the moment, the main objective of the bulls is to consolidate above 2378-2385 in order to go higher: to 2400 and then to 2430-2450.

Support levels: 2378, 2371
Resistance levels: 2400, 2418

Within the current trend we may see a continuation of the trend. There is no strong news on Friday, so the movements may be calm. I am waiting for the resumption of growth from 2378, or from the channel support.

Regards R. Linda!

17 May

İşlem aktif

2400 reached.
Gold could go even higher

17 May

İşlem kapandı: hedefe ulaştı

+400 pips

17 May

İşlem aktif

Gold is closing at the highs.
A break through 2420-2430 will give a strong momentum and there is a void ahead, accordingly, targets further 2450-2500-2550