RLinda ! GOLD-> A break of 1809 would send the price to 1800

28 feb 2023

Gold is acting on a script. Another test of the 50-hour moving average in a false-break format confirms bearish pressure in the gold market

There is a support at 1809, which is holding back the whole onslaught and plays the role of a limit support level, which might be broken in the nearest future. The gold is under the negative fundamental pressure and so it is falling down, at the moment towards the area of 1800.

I'm expecting a breakout of 1809 and a fall of the price. The short-term target is the support of 1800, the medium-term target is the liquidity zone of 1785.

Regards R. Linda!