RLinda ! GOLD-> uptrend, sideways range. What's next?

9 dic 2022

Gold is pushing back from strong support, confirming a bullish trend in the market. Buyers were able to hold the 1765 level.

Price is in an uptrend channel, but at the same time I pointed out the formation of a sideways range of 1807-1765, in the left corner I pointed out the flat trading format. Price is moving from resistance to support and vice versa

In our case, the price has pushed away from the support and is aiming for a strong level, relative to which there was a false breakout earlier. Whether or not there will be a breakout at 1807.96, I cannot say for sure, we will have to wait for the price's reaction to that level.

My priority is a pullback from the level, and after the pullback I expect a continuation of growth. We continue to monitor the price.
In a pullback, I will stick to the level of 1784, and in case of a breakdown of the resistance, my target will be the level of 1850.

Regards, R.Linda!