OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold has started the week with a good bounce putting in a nice bullish engulfing from 1850 zone, visible on the daily chart...
But, as I said in one of my last week's Gold analysis: "Don't be fooled, is just a correction, not a resumption to the uptrend", and I maintain this idea.
From the technical point of view, as I said, we have a nice bullish engulfing from support which gives scope to further gains
Though I expect this gains to be caped above 1900 zone and the bears to take control from there.
I'm looking to sell Gold above 1900 and I expect a new leg down that can bring the price to a new low for this period.
On the short term, scalpers could try to buy dips for a run to 1900

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