RLinda ! GOLD-> Strong consolidation

19 Jan 2023

Gold is resting after a strong rally. The price moved into the consolidation phase, which is proved by the presence of the range boundaries and their confirmation. Nobody knows how long it will be, probably, the fundamental factor may influence price to come out of the consolidation in the nearest future

The upper consolidation boundary is 1928, while the lower boundary is 1897. Also, the key level of 1912 passes through the range, which may play an important role for deal opening (high risk since it is difficult to trade inside the range).
At the moment there are no preconditions for the price exit from the range. Expect set-ups

Senior timeframes (D1, W1) show that growth will continue, but before the growth there may be a prolonged consolidation or rollback to the liquidity zone 1880.
It is acceptable to buy from levels: 1897, 1912 and on breakdown of 1928. Sale only with minimum risk!

Sincerely R. Linda!