RLinda ! GOLD-> Are the bulls looking to go up to $1878 ?

Gold is rising 11.6% from the Triple Bottom pattern that was formed. Earlier I pointed to a pullback from resistance. The technical fall was stopped at 1730, after which the price returned to retest the 1775 zone and the bulls are overcoming the hurdle.

As we saw, the price within the downtrend respected the boundaries of the downtrend price channel. The reversal pattern was formed on the support of the range. What happened?

Since early November, when the third confirmation of the bottom was made, the gold has recovered from the low to almost $1800 (by 11.6%). Following that, gold is breaking up the resistance of the downtrend channel after a two-week retest.

The price is above the uptrend line formed since August 2018. Gold is now in the long zone of the new 1775-1878 range. The trading instrument opens for itself a new upside potential. Important targets: liquidity zone 1850, resistance 1878 and liquidity zone 1900

Regards to R. Linda!

Yorum:

In front of the price, the resistance is 1808. A pullback to 1790 is possible.

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