Gold- 1900 zone is my medium term target
As I said before, I'm strongly bullish on Gold and if we look at the posted chart we can see that, after reaching 1680 at the beginning of August, Gold is trading higher, putting in higher lows on our chart.
So far the gains were well capped by 1830 resistance and the pattern is an ascending triangle. I expect this resistance to be broken and XauUsd to continue its rise to the next important resistance at 1900 zone.
Also, if we use the triangle's base for measuring the target we can see gold towards 2k early next year.
Interim resistance is at 1855-1860 zone and for short term traders, this can be a good zone for closing their long trades.
Buy dips remains my prefered strategy as long as the price is above 1810
So far the gains were well capped by 1830 resistance and the pattern is an ascending triangle. I expect this resistance to be broken and XauUsd to continue its rise to the next important resistance at 1900 zone.
Also, if we use the triangle's base for measuring the target we can see gold towards 2k early next year.
Interim resistance is at 1855-1860 zone and for short term traders, this can be a good zone for closing their long trades.
Buy dips remains my prefered strategy as long as the price is above 1810
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
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t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Bust your trading with 50% deposit bonus:
secure.m4markets.com/links/go/5426
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