GOLD → Consolidation 2010-2018. What can happen?

28 de nov. de 2023

XAUUSD within a strong bullish trend is forming a consolidation in the 2018 - 2010 range. Lower volatility is forming and several candlestick indications are forming that price may test support before further distribution.



On D1 we can see that the leading asset, in our case it is the DXY , is testing support, which may trigger a correction to local resistance, which will have a corresponding effect on the slave asset (gold may also start a correction within this range).

The trend is bullish, moving averages and key levels support this direction, there is no sense to talk about any medium-term and long-term sales now.
The market within the consolidation will form a lot of opportunities to gather as much liquidity as possible before further movement in one or another direction. Consequently, border touches, false breakdowns and long shadows can be formed relative to the 2018-2010 range (consolidation). But this is not the only scenario.
A breakdown is possible with a quick retest with reduced volatility. In the long term, we should wait for a breakout of resistance.

Support levels: 2010, 2007, 2004, 2000
Resistance levels: 2018, 2020, 2022

I expect consolidation within the range with the subsequent breakout of resistance, which can happen after a correction or after a quick retest of 2018

Regards R. Linda!

28 de nov. de 2023

Nota

Great. It's all scripted.
Above 1984, 1993, 1998 and 2000 a huge bullish potential is forming.
The weak dollar puts its leverage on the gold market and we see the achievement of the targets I mentioned earlier.

28 de nov. de 2023

Nota

By the way, here is the situation from D1, a screenshot of the idea I posted this Sunday. we discussed with you the medium term potpotential.
Gold is performing, based on my analysis, just great.

IMPORTANT:
I don't think 2048 is going to be broken now. This distribution on the approach to this level will exhaust its potential.
Price will not pass the 2048 - 2067 area the first time.