Gold- still bullish if it stays above 1875-1880 zone
Last week I've argued that Gold should reverse from the 1875-1880 zone and, indeed, after a short-lived spike down, the price reversed and has risen to touch the 1920 target zone.
However, after reaching this resistance, bulls lost control and XauUsd sold off and finished the day with a pin bar.
Despite this price development, I will remain bullish as long as Gold stays above last week's low and I expect price to get back above 1900 again for confirmation.
On the other hand, a break under 1870 would expose 1840 important support
However, after reaching this resistance, bulls lost control and XauUsd sold off and finished the day with a pin bar.
Despite this price development, I will remain bullish as long as Gold stays above last week's low and I expect price to get back above 1900 again for confirmation.
On the other hand, a break under 1870 would expose 1840 important support
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