Lingrid | GOLD moving towards MAIN RESISTANCE at 2000 ?

Jan 15, 2023The gold market is approaching an accumulation zone that was formed on the Daily timeframe as I forecasted at the beginning of 2023. I think the market will consolidate after reaching that area between 1950 - 1970. The market was trading in an ascending channel, and then it broke through and fixed above the main price level at 1900 on the news of China increasing its gold storage. The next levels to watch might 1950 and if price breaks it then 2000. The best support level to look for long trade I think is near 1900.

https://www.tradingview.com/chart/XAUUSD/FefIRmUe-Lingrid-GOLD-what-AWAITS-it-in-2023/

On the long term gold is moving toward the resistance area at 1970 - 1980. It might go higher and even restest the 2000 because the gold has very similar price action as it was 2 years ago and we have 3 stong bullish candles, showing the strength.



Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Jan 16, 2023

Comment

The price perfectly fulfills my last idea. Gold is moving down from resistance towards support level.The market bounced off the support level and fix above the important level at 1900. The market is bullish because the price is updating its highs, I expect trend continuation and an uptrend move from level support level 1900. I look forward growth and retest the resistance zone if price rejects the support. My long term target is 1945 resistance.