RLinda ! GOLD-> We open with gap. Price strengthens

13 Mar 2023

Gold starts the new trading session with the formation of a gap up. This maneuver in tandem with the distributive movement could mark the end of the move.

There is a chance that after the distribution and bullish gap price from the strong resistance area of 1889 can form a pullback to the local liquidity zone and support, but in the medium term remains bullish potential. If the bulls hold the 1889 level after the retest, then the price will head towards 1925
The 200-hour and 50-hour moving averages act as support, with a free zone in front of the price to the previously indicated level.

I expect the price will continue rising, but whether there will be a pullback after the retest or a break-up of the area will show in the nearest future. The short-term target is the area of 1889, the medium-term target is resistance 1924

Regards to R.Linda!

13 Mar 2023

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