Gold- Up continuation is probable
On Tuesday, Gold failed to break under 1780 zone support and, instead, reversed strongly from that level and left a large bullish engulfing on our chart.
Yesterday XauUsd consolidated and slightly corrected this impulsive mobe and now looks ready for up continuation.
1800 is the new support and, eventually dips under 1810 and towards that level should be bought in search of a good R:R if we target the 1840 zone resistance given by the resistance of the channel.
Swing traders can also target 1880 zone with strong resistance around that level.
Yesterday XauUsd consolidated and slightly corrected this impulsive mobe and now looks ready for up continuation.
1800 is the new support and, eventually dips under 1810 and towards that level should be bought in search of a good R:R if we target the 1840 zone resistance given by the resistance of the channel.
Swing traders can also target 1880 zone with strong resistance around that level.
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