In my Monday's commentary, I wrote that Gold is strongly bullish and dips in the 1950-1960 zone should be bought.
Indeed, yesterday, the price corrected in that zone and reversed strongly after touching 1955, also leaving a nice Pin Bar on our daily chart.
Thus, the bullish moment is intact as long as yesterday's low is not breached and we can have a genuine break above 1985 and continue towards ATH.
However, if the bulls are incapable of holding the price above yesterday's low, a deeper correction could follow and Gold could drop to 1900 zone.
In conclusion, buying dips remains the preferred strategy.
Indeed, yesterday, the price corrected in that zone and reversed strongly after touching 1955, also leaving a nice Pin Bar on our daily chart.
Thus, the bullish moment is intact as long as yesterday's low is not breached and we can have a genuine break above 1985 and continue towards ATH.
However, if the bulls are incapable of holding the price above yesterday's low, a deeper correction could follow and Gold could drop to 1900 zone.
In conclusion, buying dips remains the preferred strategy.
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