I've become bullish on Gold since the break above 1830 and after breaking the falling trend line and a new high above 1915 things become pretty clear: Gold has resumed its long-term uptrend.
Although the volatility is very high, looking at the bigger picture, there is one conclusion: dips are bought and Gold is making higher lows.
Technically, as I draw attention yesterday, Gold has made a symmetrical triangle pattern which now is broken to the upside and confirmed.
The target for this pattern is 1k pips and we can expect a rise well above 2000 at 2050 zone.
Of course, buying dips remains my strategy and only a daily close under 1915 would change my perspective.
Good luck!
Mihai Iacob
Although the volatility is very high, looking at the bigger picture, there is one conclusion: dips are bought and Gold is making higher lows.
Technically, as I draw attention yesterday, Gold has made a symmetrical triangle pattern which now is broken to the upside and confirmed.
The target for this pattern is 1k pips and we can expect a rise well above 2000 at 2050 zone.
Of course, buying dips remains my strategy and only a daily close under 1915 would change my perspective.
Good luck!
Mihai Iacob
Note
Gold has broken above 1950
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.