Gold had a fabulous price evolution since the 1616 low, gaining 1500+ pips in only 6 trading days, but more importantly, as I've written in my Friday's analysis, has broken above 3 significant points and most probably resuming its long-term bull trend.
However, at this moment bulls seem tired and a correction could follow and a drop to the support zone is not out of the question.
Aggressive traders can try to catch this correction by selling rallies against 1800 important figure with 2 points of interest as their target: 1625 and 1645.
On the other hand, more conservative traders can wait for this correction to be over and look to buy dips in the up-mentioned zones.
My previous Gold analysis:
However, at this moment bulls seem tired and a correction could follow and a drop to the support zone is not out of the question.
Aggressive traders can try to catch this correction by selling rallies against 1800 important figure with 2 points of interest as their target: 1625 and 1645.
On the other hand, more conservative traders can wait for this correction to be over and look to buy dips in the up-mentioned zones.
My previous Gold analysis:
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📈 Forex & XAU/USD Channel:
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🌟 Premium Contact:
t.me/IacobMihai