RLinda ! GOLD-> Consolidation after a false breakdown
GOLD. the price is pulling back after the false breakdown of the local level 1729. Let me remind you that the price is in a global downtrend, recently we saw the testing of the channel resistance and a strong fall.
On the chart, it is worth paying attention to the range in which the price is: 1745.8 - 1279, I think that in this range the energy set for the further movement is formed. Important levels are support and resistance of the range, the price can react strongly to one of the zones.
I assume that gold will continue its fall based on a lot of bearish preconditions. The medium term target is the support level of 1698.6
Regards R.Linda!
On the chart, it is worth paying attention to the range in which the price is: 1745.8 - 1279, I think that in this range the energy set for the further movement is formed. Important levels are support and resistance of the range, the price can react strongly to one of the zones.
I assume that gold will continue its fall based on a lot of bearish preconditions. The medium term target is the support level of 1698.6
Regards R.Linda!
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