RLinda ! GOLD-> The bulls are defending the 1765 lvl. Going up?

8 בדצמ׳ 2022

Gold shows us a stronger bullish behavior in the market. The price pullback to 1765, to the 0.5 Fibo level and the consolidation above the level, in the long zone, shows us a bullish mood.

The price is in an ascending price channel and yesterday the gold consolidated after the false breakdown of 1765. The consolidation was between 1768-1778, and the subsequent break-down of the resistance tells us about the future direction. There is a potential upside to 1807.96 and then to 1858.

I expect a final consolidation above the Fibo level of 0.618 (1778.489) and a subsequent rise in price.

Regards, R.Linda!