RLinda ! GOLD-> The price tends to 1807. What will happen next?

16 thg 11, 2022

Gold continues to show bearish strength on remaining fundamentally positive factors. But lately there have been more and more positive slogans about the future policy of the major regulators


(Chart 1. Daily Timeframe. Technical Analysis)

• On the daily chart we see that the daily high was updated on the 16th of August 2022, the price has not yet reached the glitch point of 1807.96 and after the consolidation above the level of 1765.23 price tends to the liquidity zone and also for the retest of the resistance with the daily MA-200.
  
• MA-50 is still in the role of support.
  
• Daily RSI is going into overbought zone, traders are waiting for a signal to enter short positions, I think, that it can be formed after the testing of key resistances.
  
• Daily MACD is bullish
  

The 4h chart informs us that the bulls strengthened their positions above 1765.23 and are aiming for a retest of resistance at 1807.96, which is the key resistance that will affect the further movement of the gold.

Regards to R. Linda!