Gold- to resume its long term uptrend
Since August Gold has dropped more than 3000 pips, what is clear though is that the long-term trend is up and the drop is forming a flag.
After making a low at 1680, Gold corrected just to drop again to the same support zone. However, last week is marked by a strong Pin Bar from this support which can give us an indication that the drop is over and we even can have the possibility of a double bottom (still needs to be confirmed)
In my opinion, Gold is ready to resume its long term uptrend and once the double bottom is confirmed, XauUsd just needs to break the downwards trend line for the road to be clear for a new challenge on the 2k+ ATH and furthermore to new ATHs
After making a low at 1680, Gold corrected just to drop again to the same support zone. However, last week is marked by a strong Pin Bar from this support which can give us an indication that the drop is over and we even can have the possibility of a double bottom (still needs to be confirmed)
In my opinion, Gold is ready to resume its long term uptrend and once the double bottom is confirmed, XauUsd just needs to break the downwards trend line for the road to be clear for a new challenge on the 2k+ ATH and furthermore to new ATHs
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💎 Crypto Channel:
t.me/FanCryptocurrency
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