Gold remains bullish in spite yesterday's reversal
In terms of daily closing, yesterday was an uneventful day for Gold.
After an initial rise, bulls were unable to hold gains and at the end of New York session, XauUsd reversed to the day's open.
Although we have this reversal from interim 1950 zone resistance, the structure remains bullish and I expect gains at this end of the week.
Technically, bulls need to keep the price above 1915 and preferably above the 1923-1924 zone.
In conclusion, in spite of yesterday's reversal, I'm looking to buy on dips with a moderate target around 1950.
As explained in my past analyses, a break above 1950 would expose 1980.
After an initial rise, bulls were unable to hold gains and at the end of New York session, XauUsd reversed to the day's open.
Although we have this reversal from interim 1950 zone resistance, the structure remains bullish and I expect gains at this end of the week.
Technically, bulls need to keep the price above 1915 and preferably above the 1923-1924 zone.
In conclusion, in spite of yesterday's reversal, I'm looking to buy on dips with a moderate target around 1950.
As explained in my past analyses, a break above 1950 would expose 1980.
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