GOLD ! Lingering correction. Where could the price reverse?💤

22 Agu 2022

Gold continues to pull back down to the strong support zone. I assume that this maneuver can be considered as a correction after the breakdown of the global downward price channel for the time being.

On the chart you can see that the price is going down to the resistance of the descending channel and the important point will be the contact of the price with this trend line.

I assume that the price can still fall, but to the old trend line and it is worth paying attention to the price reaction to this very chart element. I think that after the test the price may form an upward impulse, but at the moment the local fall will still continue.

Regards R. Linda!