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RLinda
Aug 17, 2022 8:27 AM

GOLD ! What to expect from the price after testing the support🤔 Long

GoldOANDA

Description

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Gold is trading within a sideways range of 1809.4 - 1765. The price continues to correct to the support zone.

Earlier the price was able to break the global downtrend and we saw a strong move up to 1809 resistance.

At the moment the price has moved into a consolidation phase. There is a support level ahead of the price, I believe it is an important boundary for further price reaction.

I assume, since we have a local uptrend, the support levels are more important points for reversal. I think a pullback will follow from the level of 1765.7. The short-term target is resistance 1784.5, the medium-term target is resistance 1809.4.

Regards R.Linda!
Comments
RLinda
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Agree?
financialMeerk25485
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@RLinda what's next after 1965?
ranaabdul7711
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@RLinda, yes
baigxy
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still looks bearish to 1735
Super_B_XinR
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@baigxy,Maybe
akshaygarg113
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yes
RiyadhBhuyian
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Excellent đź‘Ť đź‘Ś
AslanBaba
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Very good analysis. Thanks
El-Nino
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Lines up well with the CME gap
TheTradersAvenue
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Good analysis. keep up the excellent work
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