RLinda ! GOLD-> Should we expect a pullback from support?

1 Sep 2022

GOLD is in a strong bearish trend, but the price is almost reaching important support levels.

There is a wide price channel and the support levels of 1698 and 1681, which I would expect a pullback, but there is a chance that the price can break through these levels and go even lower, up to the support of the price channel.

We should expect the price reaction on the levels, without the possibility of breaking the support on the retest. Reaction in the form of a pullback can be very fast.

I think the gold might pullback from one of the levels, either 1698 or 1681. The short term target is the resistance of 1720.

Regards to R.Linda!