OptimoomFX

Gold- bulls are losing power- correction could follow

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
After the strong reversal from 1680 support and a break above 1720 resistance, bulls seemed to have lost their power and the gains are marginal and contained in a tight channel.
The price of Gold is approaching 1750-1755 strong resistance and I expect this level to hold, at least for now.
A correction at this point is highly probable and I will try to sell rallies towards the up-mentioned zone.
The price could fall to at least 1720 and, on the other hand, a strong and sustained break above resistance would negate this scenario.
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Comments

Nice idea but I think it may break resistance and go to 1800
+2 Reply
Well done bro🔥
+1 Reply
OptimoomFX FieryTrading
@FieryTrading, thanks
Reply
Simple and Clear.Thanks for sharing!
+1 Reply
OptimoomFX KlejdiCuni
@KlejdiCuni, thanks
Reply
Brilliant work mate! BRAVO
+1 Reply
OptimoomFX BULLSS1993
@BULLSS1993, thanks
Reply
Thumbs up for your work!
+1 Reply
OptimoomFX StevesTradingV
@StevesTradingV, thanks
Reply
keep the good work
+1 Reply
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