Gold- New leg of correction before big drop?

11 juniAs you know from my previous posts and videos, I'm strongly bearish on XAUUSD .
However, in my analysis yesterday, I mentioned that after such a significant drop on Friday, a correction is possible.
Indeed, after a double tap on the 2290 zone support, gold started to reverse and reached an intraday high of 2315.

There is still the possibility of a new leg of correction, which could provide bears with a good entry point for the future drop.
A good zone to watch for short entry signals is slightly above 2320.
My medium-term target remains the 2200 zone, and only sustained buying above 2350 would change my outlook.

11 juni

Kommentera

As explained in the morning, a new leg of correction is probable
Gold is approaching my sell zone for medium-term trade already
I will start to look for signs of weakness