• Vasily Trader

GOLD (XAUUSD): Bullish Scenario Explained

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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