Gold is entering a consolidation phase after a fairly strong and active recovery. The level of 1807 is a strong obstacle, so it needs to accumulate energy to overcome this area.
In the previous idea, I pointed out the possibility of forming a pullback from 1807, which is what we got. Price is testing 1784 and giving us a reaction. Trading inside the range is difficult, so I recommend targeting the upper or lower boundary.
I think price may stay in this 1807-1765 range for a while longer, but in the medium term I expect a breakout of resistance.
To buy, consider consolidation support at 1765, or a break of 1807 resistance.
Regards, R.Linda!
In the previous idea, I pointed out the possibility of forming a pullback from 1807, which is what we got. Price is testing 1784 and giving us a reaction. Trading inside the range is difficult, so I recommend targeting the upper or lower boundary.
I think price may stay in this 1807-1765 range for a while longer, but in the medium term I expect a breakout of resistance.
To buy, consider consolidation support at 1765, or a break of 1807 resistance.
Regards, R.Linda!
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