Mihai_Iacob

Gold is preparing for a break

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
In my yesterday's comment I said that, as long as XauUsd's price stays above the 1950 zone, the outlook is strongly bullish.
Indeed, dips were bought during the day, and after an intraday low at 1963, Gold closed the day towards the high of the range.
At the time of writing Gold is trading at 1985, exactly in resistance, and it seems that a break is imminent.
A daily close above this important level could lead to a rise above 2k and to a new ATH over the next period.
I remain bullish as long as the price is above 1950.


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