RLinda ! GOLD-> Price approaches a strong level with W1
Gold is strengthening. Strong momentum is forming after the exit from the consolidation, which was formed before the release of the inflation data. The DXY index is declining.
Price is breaking through the resistance of the strong price channel. Right now price is trading above the previously broken channel boundary and a very strong resistance level of 1912.785. which has been formed since August 2020.
At the moment we have a strong distributive movement, this movement can only be stopped by a strong marginal resistance zone, presumably which price approaches - 1912.
In the long term, I expect a test of 1912 resistance or a false break of the upward channel resistance, after which price could form a technical pullback to the support zone.
Regards, R. Linda!
Price is breaking through the resistance of the strong price channel. Right now price is trading above the previously broken channel boundary and a very strong resistance level of 1912.785. which has been formed since August 2020.
At the moment we have a strong distributive movement, this movement can only be stopped by a strong marginal resistance zone, presumably which price approaches - 1912.
In the long term, I expect a test of 1912 resistance or a false break of the upward channel resistance, after which price could form a technical pullback to the support zone.
Regards, R. Linda!
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