Gold- 1961-1963 zone remains the key for bulls

18 juil. 2023

In my yesterday's video analysis, I said that XauUsd remains strongly bullish and, although a correction could happen, I don't expect a retest of the previous broken resistance and for Gold to remain strongly bullish, the drop should stop in the 1945-1950 zone.
Gold, indeed corrected and reversed exactly from my buy zone leaving us with a long-tailed reversal doji candle on the daily chart.
At this moment bulls seem in control and the price is inching higher and higher, pressing in the local resistance that lies in the 1961-1963 zone.
I expect a break to the upside and my 1975-1980 zone target should be in play after this.