Gold remains bullish
Last week was a crazy one for Gold traders, with the price starting the week at 1890, reaching a high of almost 1000 pips higher and strongly reversing at the end.
This price development leaves a long-tailed weekly Pin Bar on our chart and, despite this, I m bullish Gold for the upcoming sessions.
On a shorter time frame (h4 posted chart) we can see that 1880-1890 is very strong confluence support and as long as this level is intact there is a high chance for further gains.
In conclusion, dips should be bought and bulls can target 1950-1960 resistance zone.
Best Regards!
Mihai Iacob
This price development leaves a long-tailed weekly Pin Bar on our chart and, despite this, I m bullish Gold for the upcoming sessions.
On a shorter time frame (h4 posted chart) we can see that 1880-1890 is very strong confluence support and as long as this level is intact there is a high chance for further gains.
In conclusion, dips should be bought and bulls can target 1950-1960 resistance zone.
Best Regards!
Mihai Iacob
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