RLinda ! GOLD-> Price is still in the risk zone. What's next?

20. Sept. 2022

GOLD is below the critical point, but the price has already tested the support zone of the global price channel. On the local chart, we see the formation of an upward support line, where the price is actually squeezed between resistance 1679 and local support.

I assume that there will not be a strong reaction in the near future, the price will continue to trade in the risk zone for some time, the price will either test the resistance 1679 for a breakout or will try to form an impulse to the support 1634. But I am more inclined to the return of the price above the level of 1679 and the subsequent strong impulse to the resistance zone. The medium-term target is 1735.

Regards to R. Linda!