RLinda ! GOLD-> testing of support and Fibo levels 0.618, 0.5

Gold is down $43 from yesterday's high. A technical pullback is forming to the key support level of 1765.

RLinda ! GOLD-> False breakdown of key resistance


Gold is in an uptrend channel. The price is still respecting the range boundaries and pulling back to the important support at 1765. There was a touch last night. Also, slightly above the support of 1765 is the key Fibonacci level of 0.5, which is a strong enough reason to wait for a pullback in the price.

Since the price is near the support zone of the uptrend, I expect price growth in the short term. The short-term target is the resistance of 1807.96. Medium-term potential -1858 and 1869.

Regards R.Linda!
Chart PatternsForexfuturesGC1! (Gold Futures)GoldHarmonic PatternsTrend AnalysisXAGXAG USD ( Silver / US Dollar)XAUXAUUSD

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