RLinda

GOLD ! Trading in a descending price channel

Kort
OANDA:XAUUSD   Guld / USA-dollar
Gold is in a strong downtrend. The price is trading in a descending channel and works out the channel resistance and support perfectly. At the moment, after a false breakout, the support at 1846.95 rolls back to the previously broken lower border of the side range and makes a false breakout. Consolidation is now forming below the level after a false breakout.

I assume that gold will fall along the trend after the price fixes below the resistance level and the subsequent price decline to a strong support zone (liquidity zone) 1822.6

Sincerely, R. Linda!

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