Gold- A nice start of the week for bulls (so far)

20 нояб. 2023 г.

In my Friday comment, I wrote that, after such an impressive upmove, there is a pretty good chance of a correction, indicating 1975 as the confluence support zone that traders should look at.
Asian session opened with a drop in that zone and bulls quickly took control and elevated the price back above 1980
On the h4 posted chart, we also see a long-tailed pin bar in this confluence support zone that also favors bulls.
That being said, my bullish outlook remains intact as long as we don't have a clear break under support and a rise back to last week's highs could lead to upwards acceleration.