Gold remains bullish above 1935-1940 zone

Last week, after touching 1980 resistance zone for the second time, Gold reversed strongly, leaving a bearish engulfing candle on Thursday.
However, with the recent break above falling wadge's resistance and above the horizontal 1940 level, XauUsd remains bullish.
Buy dips near support is my strategy and 1980 zone resistance could be the target.
A daily close under 1935 would negate this scenario.

Kommentera:

As explained in the morning, as long as the 1935-1940 zone is intact, bulls are running the show.
After a short dip during the morning to 1950, Gold exploded to the upside and now is trading at 1965.
Today's NY close is very important for future price evolution because a close to the upside could lead to an inverted H&S formation on our daily chart and probably to a break to the upside.