GOLD ! False breakdown or rebound? What next? 🧐

١١ أغسطس ٢٠٢٢

The gold is quite predictable and reaches the target I mentioned earlier, 1809, but the liquidity zone of this level is not reached, because it is a little bit higher. The price forms a pullback and breaks the local ascending price channel.

There could be two scenarios here - a false-break or a breakout. I tend to the false-break of the price channel, but if the price can consolidate under 1780.5, then there might be a small correction to the 1755.9 zone.

I think that this break-up will be false, the price will return to the long zone in comparison to 1787.4 and will continue its growth to the liquidity zone 1809.39

Regards R.Linda!