In yesterday's comment I said that "Gold can correct higher", and what at first looked like a correction has proved to be a strong reversal from support. Gold has risen more than 400 pips from the bottom to the top and we have a large bullish candle that engulfs 4 trading days on our daily chart. At this moment XauUsd is trading just under 1760 confluence resistance and I believe this will be broken too. That being said, I will look to buy dips and my first target is 1785 resistance The bullish outlook is negated only if the price make a new low
But here is what we think