RLinda ! GOLD-> It's too early to talk about a big drop!

3 Feb 2023

Gold still retains upside potential. Although on the local timeframes it seems that gold starts a strong fall, looking at the global ones, it is too early to talk about a fall.

Since gold is in consolidation, the big player will make any maneuvers to attract additional speculators' assets. All traps are used in such a game, so it is logical to trade from the range boundaries and, by the way, it is allowed to both buy and sell, the main thing is to follow the risks and rules!

On the chart we still have a rising trend of lows and highs, the gold has not yet overcome the key support zone to talk about a fall or a global correction.

The price is trending towards the strong support area of 1900-1902.
I expect a bounce in price and a possible strengthening towards the 1910 and 1920 area.

Regards, R. Linda!

3 Feb 2023

Nota

And now you can think about a serious correction :D