Gold dips to massive support

Gold dips to massive support

Key Support: 1727 – 1723
Key Resistance: 1743 – 1755

Mid Term View
Gold is bullish and has been for a while, even when we saw the big pullback from all time highs to 1675. After that bottom, Gold has been trading inside a very structure bullish move.

30M Chart Analysis
After today´s dip from yesterday´s highs Gold is retesting a big level of support and the bottom of the bullish structure giving us a great risk to reward setup to go long.

buyers are heavy here and with Gold failing to move lower on  a USD rally this setups has an even greater probability should buyers hold this level.

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Author : Orlando Gutierrez

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