Mihai_Iacob

Gold could correct from resistance

OANDA:XAUUSD   Oro / Dollaro
Gold started its trading week strongly and the price reached 1890 in the Asian trading session.
As I pointed out in Friday's video, a weekly close to the upside would put in a Pin Bar after the Bullish Engulfing from two weeks ago (see left pic), which could be an indication of a reversal to the up trend started in November.
However, in the short term, 1900 is strong resistance, and, a correction of the last strong bullish days could follow from that point.
In my opinion rallies in the 1900 zone should be sold with a focus on 1860 zone support.
On the other hand, a drop to support without a touch of resistance could offer bulls a good opportunity to join the trend and target 1900

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