In my post from yesterday regarding
XAUUSD
, I mentioned that while a correction is possible, it should be viewed as a buying opportunity to align with the overall bullish trend.
Indeed, after a brief consolidation and a test above 2260, Gold experienced a rapid drop to the 2230 zone.
However, it quickly reversed course and closed the day with a new all time high in terms of closing, at 2250
Interestingly, yesterday's intraday correction halted precisely at the previous all-time high and Friday's closing price.
This could be interpreted as a test of this resistance turning into new support.
In conclusion, as long as the 2230 zone remains intact, I am inclined to buy dips.
XAUUSD
, I mentioned that while a correction is possible, it should be viewed as a buying opportunity to align with the overall bullish trend. Indeed, after a brief consolidation and a test above 2260, Gold experienced a rapid drop to the 2230 zone.
However, it quickly reversed course and closed the day with a new all time high in terms of closing, at 2250
Interestingly, yesterday's intraday correction halted precisely at the previous all-time high and Friday's closing price.
This could be interpreted as a test of this resistance turning into new support.
In conclusion, as long as the 2230 zone remains intact, I am inclined to buy dips.
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How long can it last without correction?