Gold XAUUSD Chart Technical Outlook Gold breaks trend line support, scope for a retest of $2,322
Gold – broken out of the Head and Shoulders formation to the downside. Bespoke support is located at $2,277. We have a previous swing low from May 3 at $2,277. Reverse trendline resistance is located at $2,322. Marabuzo resistance is located at $2,335. The formation has a measured move target of $2,183.
Conclusion: there is no clear indication at least selloff has come to an end. With support located at $2,277, the preferred stance would be to sell into rallies. A retest of the breakout is located at $2,322.
*Resistance: $2,322 (retest), $2,335 (Marabuzo), $2,387 (swing high) *
*Support: $2,277 (bespoke, swi
