Mihai_Iacob

Gold- above 1800 this week?

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Yesterday I said that Gold has become pretty bearish, and, indeed, in the first part of the day XauUsd dropped.
However, in 1765 support the yellow metal found strong bids and reversed strongly in NY session.
At this point, Gold is trading at 1782, just in strong confluence resistance.
After the 3 consolidating days and the lack of power of bears, I expect a break above this level, and is very probable to see Gold above important 1800 this week
At this point, 1765 is confirmed as very strong support

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