In my yesterday's commentary I said that Gold could correct its strong bullish move and, indeed, the price fell in the first part of the day.
However, after touching the 1755 zone, bulls took control and the day closed to the upper boundary of the daily range.
Gold remains very bullish both in short term and medium term and a test of the 1800 zone is not out of the question.
As long as the price is above yesterday's low I favor long trades.
However, after touching the 1755 zone, bulls took control and the day closed to the upper boundary of the daily range.
Gold remains very bullish both in short term and medium term and a test of the 1800 zone is not out of the question.
As long as the price is above yesterday's low I favor long trades.
Note
Gold has broken above 1775 local resistance and us trading at 1782 at the update time.For 1800 zone to be reached, this level sould provide support now
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📈 Forex & XAU/USD Channel:
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t.me/FanCryptocurrency
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.