GOLD ! The potential is exhausted. Price in consolidation💤

2022年8月16日

Gold. The price has exhausted its potential after breaking through the resistance of the descending channel. There were attempts to break through the local zones 1795, 1800, 1809, but these attempts failed. The price moves into a flat phase - the phase of accumulation.

The range boundaries may be defined as follows: resistance at the level of 1809 and support at 1765.

Now correction to the support area of the range and liquidity 1765 is forming. I think it is necessary to watch this place (1765.7 zone)

I assume that the price can test the support and then push back and continue its growth. We are not talking about breakdown of resistance now, we are talking about trading inside the range.

Regards R. Linda!