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Daily GOLD Forecast – 27.10.2023

The market broke and established itself above the swing zone. It initiated a bullish impulse move from the support level, and currently, the price is forming a triangular pattern. As you can see, the price is compressed, which could lead to another impulse move. I believe the previous resistance (now support), which was tested twice, serves as a robust support level and a favorable area to enter a long position if the market exhibits some weakness, such as long-tailed bars or doji candles. My target is the resistance zone at 2006.