Gold has been in a consolidation phase for almost a month (since early December) after a strong rise. Gold is headed for strong resistance. What to expect from the 1807 level?
Gold has been recovering quite strongly since early November, but after a strong rally it went into a consolidation phase. It is worth noting here that there is no deep pullback, and we can assume that the growth will continue, but not in the short term. There is a consolidation resistance ahead, from which I expect a pullback.
On the global chart, we see the formation of a "cup and handle" pattern (bullish set-up). The price is in the retest phase of the important 1780-1820 zone. If this zone will be broken upwards, the formation of a strong impulse is possible.
The short-term target on a pullback from resistance 1807 is channel support. The medium-term target is resistance of 1840, 1858.
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.