RLinda ! GOLD-> False breakdown and pullback.

20 mar 2023

Gold is distributive and reaches the resistance of 1998. Long-term retest (about a year) could trigger a bounce of the price down after a false breakdown

The trend on the chart is strong. Gold has clearly increased interest in the market after a number of fundamentals, mostly related to the US banking crisis.
I'm expecting a small pullback, maybe around 1980 or 1966, but in the mid-term the growth will continue.

Since we have a strong trend and vraed-ly a false break will give a strong reaction against the strong trend, so I expect a bounce upwards from 1980 (1966). The medium-term targets are 2010, 2020 and 2050.

Regards R. Linda!