RLinda ! GOLD-> Three tops activates technically a pullback

23 Jan 2023

Gold forms a false breakdown of resistance 1928 (upper range boundary). The "three tops" pattern sends the price down, thereby forming a sell set-up

The trend is still bullish and therefore sales should be treated very carefully. The Three Tops pattern is a strong pattern that could be the beginning of a corrective movement. The key zone to which the price can descend is the liquidity zone 1912. From this level the price may again start its strengthening along the trend.

I expect at the moment the fall of the price to the area of 1912 and with a smaller chance to 1897, but in the medium term there is a chance for growth to 1940 and to 1952.

Regards R. Linda!