lobfxempire

Pullback To The Upside???

Long
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
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Despite the big push to hell, Gold has been consolidating all week. Price found a strong level of support near $1875, which just so happens to be a key psychological level. A correction has to be made before another push to the downside. I predict a rally towards $1895 following a breakout of the zone around $1884 and a new high. Bullish momentum could lose steam along the process, so I applied a resistance level that showed dominance on the Daily Time-frame. ($1891)

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