RLinda ! GOLD-> Resistance Retest. What to expect?
GOLD from the opening of the session seeks to update the local highs. The price is in an ascending price channel and previously the support zone was tested.
Gold does not roll back to the support zone on the retest, since the opening of the session the price is strengthening and at the time of writing the price is already 1758.69
I assume that gold is headed for resistance to 1765.
I expect that there might be an attempt to break through this resistance, and if the price breaks through it, it can head towards 1807.96
But there is a chance that breakdown of 1765 can be false and gold will go to the channel support again, thus defining the borders of local consolidation
Regards R. Linda!
Gold does not roll back to the support zone on the retest, since the opening of the session the price is strengthening and at the time of writing the price is already 1758.69
I assume that gold is headed for resistance to 1765.
I expect that there might be an attempt to break through this resistance, and if the price breaks through it, it can head towards 1807.96
But there is a chance that breakdown of 1765 can be false and gold will go to the channel support again, thus defining the borders of local consolidation
Regards R. Linda!
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