Gold- bulls regain control
Gold continued its slow correction yesterday at the beginning of the day with price dropping towards 1900 key level, a zone that I've spoken about in yesterday's comment.
From that point, buyers entered the market aggressively and the price rose to 1950 important resistance.
Although now gold is in a normal correction I believe bulls are in control and the long term uptrend will resume soon.
From the technical point of view, gold is consolidating in a symmetrical triangle and a break of trend line resistance would put gold on the run above 2k zone.
1950 is the confluence of trend and horizontal lines and a close above this price would give us confirmation.
Buy dips is my strategy and for this asset
From that point, buyers entered the market aggressively and the price rose to 1950 important resistance.
Although now gold is in a normal correction I believe bulls are in control and the long term uptrend will resume soon.
From the technical point of view, gold is consolidating in a symmetrical triangle and a break of trend line resistance would put gold on the run above 2k zone.
1950 is the confluence of trend and horizontal lines and a close above this price would give us confirmation.
Buy dips is my strategy and for this asset
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