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Salzworth

Outlook on Gold: Pullback presents an opportunity to buy

Long
Gold Spot / U.S. Dollar (FOREXCOM:XAUUSD)  
Salzworth  
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns XAUUSD Gold goldlong goldshort Forex forextrading forexsignals fxtrading goldbuy
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trendanalysis harmonicpatterns chartpattern xauusd gold goldlong goldshort forex forextrading forexsignals fxtrading goldbuy
Prices are holding well above the daily support, and we are seeing consolidation on the H1 time frame along with a clear break of structure above the recent high. A pullback to test the support zone at 1752, in line with the 78.6% retracement presents an opportunity to play the bounce with 1769 as the resistance target. Keeping in mind the daily time frame echoes a more bullish view, a break above the 1769 resistance target could see prices extend its rally.
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