RLinda ! GOLD-> The bulls took a break before further growth

18. Jan. 2023

Gold after a strong rally is going into a consolidation phase. The upper boundary of the sideways range is resistance 1928 (the first price stop), the lower boundary is support 1912, confirmed on January 17.

On the chart we do not see a set-up that would hint at a change in the global trend, it is still strong bullish and there are hints that it will still continue. Consolidation is formed at the upper border of the range and the key level for growth continuation is the resistance 1928, at breakdown of this zone, the whole liquidity volume can provoke a strong impulse in 1950.

I assume that the gold for some time will be in the given range of 1928-1912, but in the midterm I expect growth. The first target is 1940, the second target is 1952

Regards R. Linda!