GOLD ! Reinforcing the price. Test of resistance. Breakdown?🦬

٤ أغسطس ٢٠٢٢

Gold continues to strengthen from the 1740-1750 zone. The price is testing the resistance 1780.5, but the movement is forming quite strong at the moment, I assume that a small pullback is possible, after which the price may return to the resistance retest.

On the chart I have marked a local uptrend, which confirmed the change of the previous one by testing its boundaries from above.

I assume that a local false-break might occur at the level of 1780.5, after which the price might retest that level and reach the target I have specified. The target is the liquidity zone of the resistance level 1809.4.

Regards R. Linda!