OptimoomFX

Gold- Looks like is creating a base (I'm slightly bullish)

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Yesterday I said that I'm looking to sell it, and although my target was at 1820, and it wasn't touched, I managed to close my short with a pretty decent 200 pips profit.
At this point, Gold is stuck in a range between 1830 and 1860 with no clear direction as long as these support and resistance zones are intact.
Looking at the price action though, dips seem to be bought, and that gives me a slightly bullish outlook.
That being said I will wait for confirmation for a buy trade.
On the other hand, a clear drop under 1820 could accelerate losses for the yellow metal and a dive under 1800 becomes probable at this point
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Comments

interesting outlook. I'm actually bearish in spot metals right now. but good luck anyway!
+1 Reply
Thanks for sharing, let's see
+1 Reply
yes good chart but wht i know is that in the D1 chart it will go up..get ready to buy
+1 Reply
@mlufx, as i said, i m slightly bullish, to become more bullish i need confirmation:)
Reply
Excellent chart, supporting you👌🏻
+1 Reply
OptimoomFX Investroyllc
@Investroyllc, thank you!
Reply
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