Gold dips to retest 1745

Gold dips to retest 1745

Key Support: 1745
Key Resistance: 1760 – 1790

Gold has rallied 4.80% since it bottomed at the 1678-1680 level last week. We are still long and very bullish precious metals and yesterday price broke with the massive key level (1745) that was the level it broke back in June 2020 to make all time highs (2080)

In the short term we are trading in a very structured bullish move and whilst the DXY is still trading below 92.50; we are bearish the USD below this level.

Technically speaking, today´s -0.85% move is just a pullback to retest the previous broken highs whilst printing a big bullish divergence.

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Author : Orlando Gutierrez

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