GOLD → Falling to the liquidity zones. But then...

14 Apr 2023

Gold is rallying towards 2050, but in the moment it is testing the 2048 level and forming a technical pullback towards the key Fibonacci levels. What to expect from the price on Friday?

There are no important reports that will affect the price much. After the price broke the strong resistance and tested almost the annual high at 2048, the metal needs the liquidity to move one way or the other.
A strong liquidity area is forming on the chart below the levels such as: 2032, 2023, 2015 and 2000, which could theoretically take the price down and continue the rise.
I do not expect any strong moves today and it might consolidate between 2046 and 2023.

Strong support is 2032 (false-break-down strategy), 2023 (false-break-down strategy)
Strong resistance levels of 2047 (strategy "breakout"), 2050 (strategy "rebound") and 2070)
Today a pullback to the key liquidity zones is possible and the price may be in a sideways movement.

Regards R. Linda!