RLinda ! GOLD-> Price at Risk

19 Sep 2022

GOLD Global Chart. On the chart I marked the global price range, which, last week, was broken through. The price has been in this range since 2020.

The price is testing the global lows and is entering the critical area, the liquidity zone, and I think that in the global perspective, the reaction of the price is not immediate, the market will move the price as deep as possible to activate the stop-orders and sell orders, which are below that zone, after which there is a chance for a reaction in the form of returning the price to the range and the subsequent growth

I suppose that after the final liquidity capturing, the price can return to the range and reach the medium-term objective - resistance 1806, but as the price is in the risk zone, it can go down and form a pullback to the 1650 area, consolidate under it and form a corrective movement to the support 1450

Regards R. Linda!