Investroy

GOLD (XAU/USD): more upside movements en route

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
The price is currently sitting at an important level of resistance. The last few DAILY timeframe candlesticks are indicating a massive bullish pressure. As or right now, it is a bit difficult to predict whether there is a possibility for the price to drop till the 50% Fibonacci level before continuing its powerful bullish movements. However, we will keep monitoring the price action and look for more confirmations before going long and aiming for the target level indicated on the graphical illustration.

Happy trading, everyone!

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