GOLD → Price continues to strengthen within the uptrend

2023年5月9日

GOLD regains its fall. Price strengthens to 2025 and breaks the level, the next target is a strong resistance area of 2032.

The trend remains upward and an upward price channel is formed.
Price reacquires the 50-hour moving average as support.
Most likely, the resistance of 2032 will force the price to pull back a bit to the support area, but the medium-term outlook remains the same (bullish).
The key liquidity zone that the asset may seek on the back of the uptrend is the 2040-2041 area.

Strong support: 2025, upward support line
Strong resistance: 2032, 2040, 2047
I expect the continuation of price growth up to the level of 2032 with the subsequent breakthrough and growth of the price up to 2047.

Regards to R. Linda!

2023年5月10日

注释

After breaking through the 2025 level, gold is steadily strengthening above a strong key support level.

On the news and CPI bullish data, the gold reaches the previously mentioned resistance area.

Thus, the price reaches the mentioned target and gives us the result of 220 pips!