Gold XAUUSD Chart Technical Outlook dips to be bought, support located at $2,297
Although Gold has posted three positive days in succession, all price action has been confined to the June 7 range. These candle formations are known as ‘inside soldiers’. They highlight the lack of momentum in the upside move.
The intraday chart shows the building of a bearish Bat formation. Intraday support is located at $2,297. The cypher formation will be completed at $2,375.
Resistance: $2,341 (yesterday’s peak), $2,375 (Bat), $2,387 (June 7 high)
Support: $2,297 (bespoke), $2,286 (June 7 base), $2,279 (bespoke)
