XAUUSD (gold) continues to perform exceptionally well.
And I don’t see that changing anytime soon.
Will we have pullbacks?
Of course.
But I’ve maintained for months now that I’m a fan of buying pullbacks into support or bullish breakouts.
That hasn’t changed, and probably won’t for the next few years.
With XAUUSD now above its all-time high just above 1900, it’s all about the 2000 handle, in my opinion.
I talked about that last week.
Above 2000, it gets tricky since XAUUSD has never been this high.
It may just be a matter of using 2100, 2200, etc.
Unless, of course, we get a structure that provides us with a measured objective such as a wedge or bull flag.
But until then, I’ll use 2000 as resistance followed by 2100.
Key support is the previous all-time high between 1900 and 1915.
And I don’t see that changing anytime soon.
Will we have pullbacks?
Of course.
But I’ve maintained for months now that I’m a fan of buying pullbacks into support or bullish breakouts.
That hasn’t changed, and probably won’t for the next few years.
With XAUUSD now above its all-time high just above 1900, it’s all about the 2000 handle, in my opinion.
I talked about that last week.
Above 2000, it gets tricky since XAUUSD has never been this high.
It may just be a matter of using 2100, 2200, etc.
Unless, of course, we get a structure that provides us with a measured objective such as a wedge or bull flag.
But until then, I’ll use 2000 as resistance followed by 2100.
Key support is the previous all-time high between 1900 and 1915.