RLinda ! GOLD-> price tends to the liquidity zone. What's next?

15 feb 2023

Gold is down 1.10% since opening. The fundamentals continue to weigh on the price, while major central banks from several countries continue to buy the metal.

The price is falling towards 1830-1820 area after the false breakdown of the 50-hour moving average and the release of the fundamental data. Below the 1830-1820 area there is a strong liquidity zone and transition level, just there is the lower boundary of the price channel - this combination can affect the price quite positively.

I expect a rebound against the trend from the 1825-1820 area, all because below this zone there is a large density of orders, which the price is unlikely to break through at the first time. The short-term target is 1840, 1845. The medium-term target is 1850, 1860.

Sincerely R. Linda!