XAUUSD near key resistance, could possibly drop
XAUUSD is approaching its resistance at 1291.78(61.8% & 100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal pullback resistance) where it is expected to reverse down to its support at 1270.58(50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance where a corresponding reversal is expected
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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