Gold- From pretty bullish to strongly bullish

8. Nov. 2021

It was an interesting week for Gold traders, with the price providing a lot of clues for future price evolution.
Gold has started last week trading down and the price dropped to 1760 low, just to strongly reverse at the end of the week, rising Thursday and Friday 600 pips, giving us a nice reversal candle on our weekly chart.
From a technical point of view, Gold managed to break above 2 important horizontal resistance lines. 1785 and 1810, and now is trading upwards towards the important 1830 zone.
In my opinion, XauUsd is strongly bullish at this moment and traders should look to buy dips.
As I said, 1830 is resistance and a break above this zone would expose 1900 in medium term, and I this this scenario is very probable
Gold back under 1785 would negate this scenario