RLinda ! GOLD-> Retest of MA-50 resistance. When to fall?

14 Feb 2023

Gold continues to decline. The price is testing the 1850 area, but the bulls in the correction phase continue to resist. What to expect from the price?

Price is strengthening from the 1850 area and testing the 50-hour moving average.
The MA-200 and MA-50 indicate a local bearish trend within the descending price channel.
Above is a strong area of liquidity around 1865-1870, price may react to this area of resistance in a bearish manner.
Open potential for price weakening to 1848, 1830 area

I expect the testing of Ma-50 as a false-break or 1865-1870 resistance area and further price reaction in the form of falling. Short-term target - support of 1848, medium-term - liquidity zone 1830.

Regards R.Linda!

15 Feb 2023

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