Mihai_Iacob

Gold- 1920 remains my target

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Yesterday I said that Gold has become bearish, rallies should be sold and a break under 1975 would bring confirmation for sellers.
Indeed, Gold sold out yesterday, dropping almost 400 pips from top to bottom.
At the moment of writing, XauUsd is trading in minor 1940 support and we can have a rebound from here. This rebound can be o good opportunity for bears to load up short trades for a continuation of the drop to 1920 important support.
Resistance begins at 1960 and extends to 1975 and only a daily close above the latter would negate this scenario.


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