RLinda ! GOLD-> Continuation of the fall in the medium term

2023年2月27日

Gold is set to continue its slide as indicated by the close of last week's trading sessions (red candles) and especially the close of the day on Friday. The price is slowly but sliding down.

A key low of the previous day is defined on the chart. A breakdown of this level and a bonehead below it may provoke additional selling.
The general situation is that the price is under the pressure of the MA200 and MA50 moving averages, whereas gold is in a downtrend inside the price channel.

I expect the continuation of the fall either after a pullback to the channel resistance, or after a breakout of the support area 1809. Short-term target - support 1800, medium-term target - liquidity area 1785

Regards R. Linda!

2023年2月28日

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