RLinda ! GOLD-> False breakdown or true breakdown?

27 Oca 2023

Gold is out of range. The channel support has been broken, but the price is resting in the limit zone of 1920, which is the consolidation support where the price is.

The response to range support is adequate. Price bounces back and intends to return in the boundaries of the upward price channel. If price returns to the channel, it will have the potential for an uptrend move to the 1950-1952 resistance zone.

I expect price to be able to return in the boundaries of the uptrend channel in the near term and begin to strengthen towards the consolidation resistance where it has been for two weeks. The short-term target is the 1940 resistance and the medium-term target is the 1950 liquidity zone.

Regards, R. Linda!