GOLD - The retest of the channel support. What's next? SHORT

2023-03-28 07:19 GOLD Forecast

Gold is in the 2000-1930 range and the price is testing upward channel support, the reaction is weak and the price returns to the retracement. What's next?

I assume that because of the retest, the price is preparing for a decline.
The range support is not tested, so there is a high probability that the price will soon break the uptrend channel support and test the level 1933 (0.382 Fibo)

I expect the price reduction to the level of 1933, but this maneuver will test the breaking of the uptrend. Watch the behavior of the price when the uptrend breaks the uptrend channel . Strong momentum may be formed!

R. Linda

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