XAUUSD – Major Corrective Support Just Below (daily chart)
Selling off 5 of the last 6 days, gold has been maintaining it’s large corrective structure since June this year between 1375 and 1300.
MT I’m bullish on the pair while this price action structure is holding and like the 1300-1310 zone for potential longs.
If this zone holds, then I’d be targeting the upper end of the zone near 1370/75. However if we get a daily close below 1300, then 1275 and 1250 will be under attack in short order as there are likely some stops just below the 1300 level.
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