GOLD (XAUUSD): Bullish Scenario Explained 🥇
Updated
Hey traders,
Gold is trading in a sharp bullish trend since the beginning of April.
From the middle of May, the market became extremely overbought and finally, we saw a retracement this week.
The price dropped all the way down to the support of a rising parallel channel.
With a consequent bullish reaction, we see a willingness of buyers to buy.
Now we can expect a bullish trend continuation with a new higher high higher close on a daily.
It looks like buyers will aim at 1950 - 1960 supply zone (key daily pivot)
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