RLinda ! GOLD-> Price is in the range of 1879-1869. What's next?
Gold, amid the fundamental press releases, is performing a rather strong and unpredictable maneuver, though the fundamentals were also unpredictable
Gold is testing the liquidity zone of 1879.4 - 1869.5, and since the trend is still bullish, there is a chance that the price will go up (above 1879.4). If that is the case, the price will open up the upside potential to 1901.
On the hourly timeframe the price forms a false-break of 1879 and we should wait for a pullback to 1869.
I assume that the density zone might not allow the price to go down the first time. Gold needs to pullback to 1901 or to the previously broken trendline.
The short-term target, in case the price consolidates above 1879, is the resistance at 1901.
Regards to R. Linda!
Gold is testing the liquidity zone of 1879.4 - 1869.5, and since the trend is still bullish, there is a chance that the price will go up (above 1879.4). If that is the case, the price will open up the upside potential to 1901.
On the hourly timeframe the price forms a false-break of 1879 and we should wait for a pullback to 1869.
I assume that the density zone might not allow the price to go down the first time. Gold needs to pullback to 1901 or to the previously broken trendline.
The short-term target, in case the price consolidates above 1879, is the resistance at 1901.
Regards to R. Linda!
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