Lingrid | GOLD continues to SURGE. Long from the SUPPORT zone

23. Okt.

The price perfectly fulfilled my previous idea. It hit the target zone. XAUUSD surged upward, reaching new all-time high levels. At this point, it's prudent to wait for a pullback from the resistance zone before considering a long position. The recent break and close above the previous day's high is a bullish signal, suggesting that the market may continue upward toward the next resistance level at 2800. However, we need to be cautious, especially with today's high-impact news. If the news negatively impacts gold, it could trigger a decline to the 2700 level. I expect the market reject the support level and donward trendline and moving higher levels. My goal is resistance zone around 2760.

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