Gold XAUUSD Chart Technical Outlook trading within the corrective BC leg of a Butterfly formation. Common retracement levels are the 38.2% and 88.6% pullback of the last decline. With the 38.2% already breached, this brings $2,060 into focus.
Conclusion: the immediate bias remains bullish but with the knowledge that this is the corrective BC leg (counter-trend). It would be advisable to watch DXY at support before attempting to short Gold.
Resistance: $2,035 (38.2%), $2,060 (88.6%), $2,065 (swing high)
Support: $2,016 (bespoke), $2,015 (AB), $1,985 (butterfly)
