RLinda ! GOLD-> The price is testing the sellers' panic zone

3 Mar 2023

Gold finishes the correction by exiting the bearish wedge, retesting the resistance of the broad consolidation and then trying to break through the red line. What's next?

The potential for a possible breakdown of 1845 resistance opens. If the price fixes above this line, there is a chance for the continuation of the growth towards 1863, but since 1845-1850 is a rather strong area in terms of resistance, we also have a chance for a possible breakdown and fall of the price down to the support of the uptrend channel

If the bulls will be able to keep the level of 1845 and stay above it, then we should consider buying in the nearest future with the further reaching of these targets: 1850, 1860.

Regards to R. Linda!

4 Mar 2023

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5 Mar 2023

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