Gold is preparing for a break

In my yesterday’s comment I said that, as long as XauUsd’s price stays above the 1950 zone, the outlook is strongly bullish.
Indeed, dips were bought during the day, and after an intraday low at 1963, Gold closed the day towards the high of the range.
At the time of writing Gold is trading at 1985, exactly in resistance, and it seems that a break is imminent.
A daily close above this important level could lead to a rise above 2k and to a new ATH over the next period.
I remain bullish as long as the price is above 1950.

Nas100 finally broke support

As you know from my previous posts, I’m bearish Nas100 and over the past few weeks, I warned twice of the possibility of a drop.
With my first target hit at 14500, now I’m looking towards the second one from 13500.
As we can see from the posted chart, since mid-July, Nas100 has traded contained in a descending triangle and yesterday, the support of the triangle was clearly broken
Judging from the measured target of the pattern and the next important level of horizontal support we could expect the price to continue down and drop to 13500.
The traders’ strategy should remain the same: Sell rallies with negation above 15k

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