RLinda ! GOLD-> the price is stuck in consolidation. What next?

9 мар. 2023 г.

Gold is languishing in the confines of consolidation because of the turmoil in monetary policy. Central banks around the world continue to buy gold, so there is demand for the commodity. But in that case, what should we expect?

Gold is once again testing the 1818-1820 consolidation resistance zone. Recall that we have a bearish local trend. Since we are confronted with the range, you should open the deals only from its borders.
The price has not tested the liquidity zone of the 1810-1813 volume profile yet and it has not tested the consolidation support, so I think there is a good chance that the price will go down to that area.

I expect gold to fall after a false breakdown of the range resistance. Short-term target 1813, 1810, medium-term target 1806, 1800

Regards R. Linda!