XAUUSD testing resistance, potential drop!
XAUUSD is approaching its resistance at 1303.25 (horizontal pullback resistance, 23.6%, 50% Fibonacci retracement, 100% Fibonacci extension, short term descending resistance line) and we expect price to drop to its major support at 1281.70 (horizontal swing low support, 61.8% Fibonacci extension).
Stochastic (34,5,3) is also approaching its resistance where we might see a corresponding fall in price.
Stochastic (34,5,3) is also approaching its resistance where we might see a corresponding fall in price.
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