RLinda ! GOLD-> Attempting to come out of consolidation

20 янв. 2023 г.

Gold is trying to get out of the accumulation. False breakdown of 1928 resistance, but the price does not fall, returns to the retest and at the moment the price is already consolidating above the resistance and above the channel boundary

At the moment the bulls are actively fighting for the long zone in relation to the level of 1928, With the final fixation of the price above 1928 we will see a surge of energy and momentum towards 1950

I assume that at this moment two scenarios can happen
1) Fixing the price above the channel resistance and above the 1928 level. After that the price will start an active growth first to 1940, then to 1950
2) False break-down and price consolidation below 1928, in which case gold will continue its location to the borders of the consolidation range and downfall to 1912 is expected.

Regards R.Linda!