TheDayzen

XAUUSD close to break the daily downtrend.

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
We've just tested twice the area between 1812-1820 which is considered as a very strong historical support level and was strongly rejected by this price. We are expecting the market to close above the Daily demand zone above on 1840 and shift to a bullish market to break the trend line past 1870. and aim for the previous supply Zone at 1900 which is the next strong resistance ahead. From a COT perspective we are seeing financial institutions opening more long position and closing short position according to the last report. From my perspective everything shows that the market will try to reach the 1900 and start its bullish move.

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