RLinda ! GOLD-> Consolidation for fall. What is the target?
Gold is hinting at strong bearish sentiment and will fall soon. What's next?
Price forms an ABCD set below the 1862-1868 liquidity zone near the 1856 support level. Price is pushing against support and a consolidation is forming for a breakout of the price level. Price recently broke out of a bearish flag, thereby activating a scenario for selling.
If the price breaks through the 1856 level, gold will have a downside potential to the support level of 1823.
I assume that the price can break through the 1856 level and consolidate under it in the nearest future. After that, I will be waiting for the futures to weaken and the 1840 and 1825 targets.
Regards to R. Linda!
Price forms an ABCD set below the 1862-1868 liquidity zone near the 1856 support level. Price is pushing against support and a consolidation is forming for a breakout of the price level. Price recently broke out of a bearish flag, thereby activating a scenario for selling.
If the price breaks through the 1856 level, gold will have a downside potential to the support level of 1823.
I assume that the price can break through the 1856 level and consolidate under it in the nearest future. After that, I will be waiting for the futures to weaken and the 1840 and 1825 targets.
Regards to R. Linda!
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Join me, I'll guide you to PROFITABLE TRADING💵!
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