Mihai_Iacob

Gold remains bullish in spite of yesterday's red day

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
In my yesterday's analysis, I said that the structure for Gold is bullish and it will remain so as long as the price stays above the 1720 zone support.
From an intraday perspective, Gold closed yesterday into the red, however, this does not change the overall structure one bit.
More, on the short-term posted chart we can see that yesterday's low is in fact a higher low relative to last week's one and, we have a clear short-term resistance at the 1760 zone with the price pressing into it.
I expect a break above this resistance which would give scope to a test of 1785 high.
The trading strategy for Gold should be the same, buy dips against 1720

Free Telegram- Forex&Gold trades:
https://t.me/intradaytradingsignals

Free Telegram- Crypto:
https://t.me/FanCryptocurrency



Paid subscription info:
https://t.me/IacobMihai
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.