XAUUSD bounced off its support, potential to rise further!

XAUUSD bounced nicely off its support at 1340 (50% Fibonacci retracement, horizontal overlap support) where it could potentially rise to its 1st resistance at 1355 (100% Fibonacci extension, Elliot wave structure). If it surpasses this level, it could rise to its next resistance at 1360 (100% Fibonacci extension, horizontal swing high resistance). We have also identified another support level at 1336 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, 61.8% Fibonacci retracement).
Stochastic (21, 5, 3) bounced nicely off its support at 10.2% where a corresponding rise could occur.