Price action for XAUUSD last week remained pretty much between the intraday resistance levels mentioned in the last post which can be found here.
The price action for XAUUSD from ~$1303.84 to price close of ~$1324.65 can best be described as a corrective (3 wave price move), which is identified in this analysis as a minute wave ((a)). This implies anticipating a minute wave ((b)) that will see the price of XAUUSD sell off, even if temporarily.
Corrections are very difficult to deal with and do require a lot of patience. The only bullish scenario that is favored therefore in this analysis is a price close above the topmost resistance line in this analysis which is ~$1325.73. This could result in XAUUSD targeting between $1352.97 and $1357.46.
Alternatively, the only bearish scenario that is considered in this analysis is price breaking below ~ $1301.61 which is the low for XAUUSD on May 1, 2018. A break below this price could see XAUUSD target ~$1251.97.