Mihai_Iacob

Gold- ATH still likely

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Since the teste of ATH back at the beginning of May, Gold dropped more than 1500 pips and has broken under some important levels of support even implying a change of trend.
However, in my opinion, these in the end will prove just false breaks and liquidity grabs and XauUsd will soon resume its up move and path to new ATH.
From a medium-term perspective and technical point of view, we have a large support zone given by the beginning of the year congestion and we could reverse from here.
On a shorter term time frame, 1940 si very important and a break above would expose 1980.
In conclusion, I'm still bullish Gold and expect ATH this year

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