XAUUSD: Still Faces Corrective Pullback Risks!

gold _ usd

XAUUSD: Still Faces Corrective Pullback Risks!

As long as 1340 resistance holds on a daily closing basis, the XAUUSD remains in a pullback mode and further down could be seen towards the 1312 levels, ahead of the 1299 levels, next support comes at the 1291/1283 levels.

On the upside, resistance comes at the 1340 levels, a sustained breakout above that level will turn the focus on the 1350 levels. Above 1350 will restore the upside momentum and pave the way to the 1357/1365 levels, further upside, resistance comes at e1375/1292 levels…

Conclusion: The XAUUSD continues to face pull back threats below the 1340/1350 levels…

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