Gold is breaking the upward channel. Prolonged retests and a difficult zone near the boundary are the battleground between buyers and sellers. It took longer for the price to start correcting against the strong trend
The price breaks through the support of the local consolidation of 1918 and the gold descends to the 1900 zone - the liquidity and support zone of the global sideways range (the price has not yet touched, thus - the area has not been tested). There is a possibility of a slight pullback before the further main phase of testing the 1901-1900 area.
I assume the 1900 zone is strong enough to expect a pullback and price strengthening to the 1913-1920 area. Important! If the price breaks through 1900 and consolidates below the level, there will be a good chance for the price decline to the area of 1890 and 1880
Regards R.Linda!
Comment
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Gold is steadily strengthening from the global consolidation support zone. The price at the moment is 1920
@RLinda, I agree with you, but the market will have the last word
aox8zs
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@RLinda, Gold is steadily strengthening from the global consolidation support zone. The price at the moment is 1920
aox8zs
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@RLinda, From 1920 upwards. 1920 bottom. It will go up. 1985 Tp.
InvestingScope
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Beautiful chart! Here's our idea:
Williamforex
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Appreciate
iamjoeybebe
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Great work and accurate analysis as always. Thanks 🙏
Setupsfx_
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Perfect
CHART-EX
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hey rlinda iam glad and proud how you are doing great job of analysis also ia, surprized how you have all these skills how do you learn this method of analysis cause i saw it by many of proffessional traders do that as you did