GOLD ! Testing range support for the up-trend. What's next? 😶‍

١٥ أغسطس ٢٠٢٢

GOLD is currently trading in an uptrend after a false breakdown of 1690.
The price is also in a sideways range between the levels of 1787 and 1809. The price is testing the support and trying to break it.

On the chart, we see a local liquidity zone formed at 1765, in a negative scenario, the price could reach this level.

Since we have MA 50 and MA 200, uptrend, price channel and strong support at 1787.4, there is every chance that a false break-up will be formed and the price will rise to the resistance of the range.

Regards R. Linda!