Gold- to resume its long term uptrend?
What is clear for Gold long term trend is that is bullish and this drop was a minor downtrend which in fact was a correction to the longer-term trend.
This correction may be in fact over and 1850 a strong bottom now.
Overnight Gold has risen aggressively and managed to break above 1900 resistance negating almost all of Monday's drop.
From the technical point of view, 1900 is now support and 1875 could be a higher low already.
I'm bullish as long as 1900 holds and I will look to buy dips around this area with a first target at 1920
This correction may be in fact over and 1850 a strong bottom now.
Overnight Gold has risen aggressively and managed to break above 1900 resistance negating almost all of Monday's drop.
From the technical point of view, 1900 is now support and 1875 could be a higher low already.
I'm bullish as long as 1900 holds and I will look to buy dips around this area with a first target at 1920
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