dlifestyletrader
Long

Gold: Consolidation Before the Next Bullish Wave

FX:XAUUSD   Gold Spot / U.S. Dollar
The gold has gained tremendously since last Friday and continue so for the first 2 trading days this week.
The fell into a consolidation after a strong pullback since it reached the highest at 1344, a strong supply zone in the weekly chart.
At the same time, the dollar also showed strong support at 97 and further pullback is expected which will cause the gold to retrace further too.
Wait for the price to retrace towards 1322 demand zone to look for a buy opportunity.
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