RLinda ! GOLD -> Global market is Bearish
Updated
GOLD is still under the pressure of the bear market. On the local chart the situation was interesting with the development of bullish preconditions, but unfortunately the world market is not going to recover yet.
On the chart, I marked a price channel, the price tested the resistance and started to form a pullback and movement in the phase of the fourth wave. The movement of the waves is about the same distance, so you can probably assume the medium-term target for the price is the lower boundary of the expected end of the wave.
I assume that the fall will continue, the movement has just begun and it is worth to focus on the strong zones and strong resistance levels, to enter the market by trend.
Regards R. Linda!
On the chart, I marked a price channel, the price tested the resistance and started to form a pullback and movement in the phase of the fourth wave. The movement of the waves is about the same distance, so you can probably assume the medium-term target for the price is the lower boundary of the expected end of the wave.
I assume that the fall will continue, the movement has just begun and it is worth to focus on the strong zones and strong resistance levels, to enter the market by trend.
Regards R. Linda!
Note
Also worth paying attention to the MA 50 and 200 lines, the price has broken through them and is under these levels in the short zone.
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NO‼️
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Join me, I'll guide you to PROFITABLE TRADING💵!
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