Mihai_Iacob

Gold- Up continuation to test ATH?

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
In my yesterday's comments, I explained why, after the false break of the confluence support there is a high chance of a test of the recent high.
Indeed, XauUsd has risen and tested exactly that point. A correction followed and now the price is consolidating.
The overall structure remains very bullish and traders could look to buy dips around 1990.
If Gold manages to break above yesterday's high, the most obvious target is the old ATH.
A drop under the 1975-1980 zone would put a pause on this scenario.

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