XAUUSD Bullish Engulfing Hourly Chart

Resistance: 1696.75 minor / 1705.17 minor / 1710.06 moderate Support: well below forecasted values Overall trend in XAUUSD is bearish though Hourly charts appear to be overextend. With a mid level reversal pattern, Bullish Engulfing we risk a technical correction though this is likely to be limited to 1696.75. The prudent course of action is to remain sidelined. For pattern explanation and visual identification rules, click here. Learn more about the chart patterns and how to recognize them in

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XAUUSD Bullish Engulfing Hourly Chart