Gold Potential further pullback before next bullish upward bounc

XAUUSD Monday opening session is hovering around the 2358 price level. As no bullish attempts to be seen so far, it opens the door for a deeper pullback that can ping the 2352 before a new upside target in the 2390 price area.

A stable breakout of 2364 resistance will negate this pullback.

Kommentar:

Pullback is going further south to reach 2342 with an expected bounce back to the 2359 price level. Only a breakout above may bring a stable Long within the current market correction context :(

Kommentar:

The Daily low in the 2339 mark may create a consolidation range from now between 2346 and 2352 before getting able to go more up.