XAUUSD prices initially dipped but then rebounded, with attention focused on the 2,300 level. Short-term pullbacks are likely to attract buyers, potentially pushing prices to 2,400 or even 2,450. The month of June came to a close with a doji candle, which often signals uncertainty in the market. As we look at the larger picture, gold's price remains trapped within the range of the massive bearish candle that formed earlier in June. To establish a clear trend, I believe we need to see a break above or below the boundaries of this monthly candle. When we examine the daily chart, we can see that the price is being heavily squeezed, a condition that will eventually lead to a more impulsive movement.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.