Lingrid | GOLD ready to TEST the PSYCHOLOGICAL level of 2500 ?

2. Aug.

The market moved higher following the news release. Yesterday's daily candlestick was a doji, and I believe the market is poised to break through it to retest the previous resistance at the all-time high level. Since the market hasn't yet tested the psychological level at 2500, there's a possibility it might do so today. The price action shows bullish momentum, and it recently broke and closed above the 2450 level. I anticipate that the market may create a range around the resistance zone at 2480 or even form some pullback from it. However, if the upcoming news favors gold, the market may surpass the previous month's high and move higher level. My target is the resistance zone at 2495.


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