Gold could rise to test resistance
Yesterday, 
XAUUSD dipped below the 2300 mark, aiming to test the support zone around 2270.
However, despite two attempts to continue downwards, the price swiftly reversed above 2300 each time. The second reversal was even more pronounced than the first, resulting in a 400-pip increase in price.
At present, Gold is trading around 2225 support zone. A decisive break above this level could signal further upward movement, potentially testing the resistance zone at 2360.
As long as the newly established short-term support at 2315 remains intact, my outlook is bullish.
XAUUSD dipped below the 2300 mark, aiming to test the support zone around 2270. However, despite two attempts to continue downwards, the price swiftly reversed above 2300 each time. The second reversal was even more pronounced than the first, resulting in a 400-pip increase in price.
At present, Gold is trading around 2225 support zone. A decisive break above this level could signal further upward movement, potentially testing the resistance zone at 2360.
As long as the newly established short-term support at 2315 remains intact, my outlook is bullish.
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