GOLD ! What next? A price increase or a pullback? 🤔

29 Tem 2022

GOLD is still trading in a downward channel, with the key zone being the resistance zone where the price is headed. We also see that the price is successfully exiting the boundary of the 1750 trading range.

Earlier there was a false breakout of a strong support level from which either a new uptrend or a deep correction can be formed.

I have marked two trends as the chart shows that the 1750 zone is key for price. If the price can consolidate above this level, we will have upside potential. The short-term target in that case is resistance at 1780. If the price makes a false breakout of 1750, then not a deep pullback to the support of the local ascending channel is possible.

Regards to R.Linda!