OANDA:XAUUSD   Gold Spot / U.S. Dollar
Since the recent high at 2067, Gold has traded to the downside with some anemic rallies that were sold every time.
Now, after more than 1000 pips drop, Gold is trading exactly in trend line support and it is very important for bulls to keep this level intact.
The next level of resistance is last week's high above 1980, but for bulls to gain the upper hand on the medium term the need to reconqer 2k figure.
To the downside, a break under the trend line support could lead to further losses under 1900 with the most obvious support level at 1860.
I'm slightly bullish considering the importance of the support level, but for a buy trade I need more confirmation.

🚀 Elevate your trades with a 20-year market veteran!

📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals

💎 Crypto Channel:
t.me/FanCryptocurrency

🌟 Premium Contact:
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.