Gold–A Bullish Revival or Just a Correction After Friday's Drop?

18 Şub

Yesterday was a very quiet day for XAUUSD traders.

After a normal rebound from the 2880 support, the price hovered around 2900 in a low-volatility environment.
Overnight, bulls found some strength and pushed the price to a high of 2916. At the time of writing, Gold is trading around 2910.

In my view, this is merely a correction following Friday’s sharp drop, not a resumption of the bullish trend. As I mentioned yesterday, I am looking to sell rallies.

My idea would be invalidated by a daily close above Friday’s high.
As for the target, in the medium term, we could see the price drop to 2850.

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18 Şub

İşlem aktif

Xauusd just reached my sell zone.
I m targeting a drop under 2900