RLinda ! GOLD ! An upward channel appears

٢٣ أغسطس ٢٠٢٢

Gold is forming an interesting picture. As we can see on the chart, today's price testing of the upper boundary of the downtrend resistance and support 1733 confirmed the presence of a wide uptrend channel on the chart.

Let me remind you that earlier the price broke the global downtrend, which lasted quite a long time.

The resistance level of 1752, which plays a key role in the uptrend, is ahead of the price. If the price breaks through this level, we have the potential for a big rise.

I assume, since we have the confirmation of the uptrend channel, there are all chances that the price will continue its growth up to the upper boundary, but we will be guided by the local targets.

Regards R. Linda!