RLinda ! GOLD-> Rollback to retest the base of the figure

14 mar 2023

The gold made a very strong jump after it formed a double bottom. After testing 1800 and the catalyst, which is a fundamental factor, we saw a rise of 6.20%.

At the moment the price makes a false break-through of the area of liquidity and interest 1913-1917 and forms a technical rollback to the base of the pattern 1889-1890. There is a chance to get a rebound towards the main trend after the retest of the support.

I expect that the technical pullback may end at the base of the reversal pattern, which was previously broken. The key level at the moment is 1889-1890. The price may test the area as a touch or a false-break. The short-term targets for a pullback would be 1900, 1915 and 1925.

Regards to R.Linda!