Mihai_Iacob

Gold could see a strong pump

Long
OANDA:XAUUSD   Złoto / Dolar USA
Since the break above the very important 1680 horizontal level and the falling trend line dated back in March, Gold has traded upwards with little or no correction.
On Friday I said that we can have a correction following NFP and highlighted 1765 as important support with respect to the 1785 zone,
Indeed, the price fell in the beginning, but bulls quickly took control, and the weekly close found Gold near the high of the range.
This is a confirmation that bulls are in total control and even small dips are bought.
Strictly technical 1765 is now very strong support and only a daily close under this level would alter this strongly bullish outlook.
Dips around 1800 should be bought and swing traders could set 1880 resistance as their target

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