RLinda ! GOLD-> A retest of the two-month low. What's next?

24 Feb 2023

Gold is renewing its two-month low. The price has entered the risk zone and is forming a pullback, which is not yielding much. A retest of the 1818 area could trigger a strong downward momentum

Price is exiting a bearish triangle and testing a strong upward support line. In the moment, even trying to consolidate under the level, showing strong bearish sentiment.
Lower volatility and lack of bullish momentum tells us about the medium-term potential.

I expect a breakout of the support line and the 1818 area followed by a fall of the price to the 1800 area. The short-term target is 1810 and then 1800.

Regards to R. Linda!

24 Feb 2023

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