Gold- bulls regain control

2020年8月27日

Gold continued its slow correction yesterday at the beginning of the day with price dropping towards 1900 key level, a zone that I've spoken about in yesterday's comment.
From that point, buyers entered the market aggressively and the price rose to 1950 important resistance.
Although now gold is in a normal correction I believe bulls are in control and the long term uptrend will resume soon.
From the technical point of view, gold is consolidating in a symmetrical triangle and a break of trend line resistance would put gold on the run above 2k zone.
1950 is the confluence of trend and horizontal lines and a close above this price would give us confirmation.
Buy dips is my strategy and for this asset