Mihai_Iacob

Will Gold resume its uptrend?

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
In the past two months, Gold was extremely volatile with ranges on some days of 500 pips or more.
However, looking at the daily posted chart we can see that since last August's low at 1680, the trend is up.
At this moment, the price is very close to retracting all "war" effects and is entering a strong buy zone.
Technically speaking 1880 should provide strong support and, in my opinion, dips around this level should be bought.
The target for bulls can be 1920 now resistance and a daily close under 1870 would negate this scenario.


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