RLinda ! GOLD-> The bulls pull the scales to their side

22 feb 2023

Gold is not going to fall, the local situation on the chart tells us about it. The price breaks through the resistance of the local channel and enters the narrow range between 1836-1843.

There is a probability of price exit from the global downward channel. Earlier, I pointed to the formation of the ABC correction, which most likely was exhausted in the area of 1818. Now the price is updating the local highs, forming pre-break consolidations and breaking through the local boundaries.

I expect that on the retest there is a chance for breaking through the resistance area and the level of 1843, after which I will be waiting for the 1870 resistance target. In the medium-term target I am interested in the level of 1900

Regards R.Linda!