Mihai_Iacob

Gold- Will it break up today?

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Yesterday, Gold corrected the previous up move and dropped to a low at 1812. This spike down was very short-lived, with bulls regaining control pretty quickly and elevating the price above 1820 again.
This spike and quick reversal is an indication that buyers are in control and we can expect a break above resistance.
1830 is a very clear horizontal level at this moment and when/if the price will break above, I expect acceleration due to the high amount of SLs above.
1810 remains the demarcation line and only price under this zone would change my opinion

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