XAUUSD reacted off our resistance, further potential drop!
XAUUSD reacted off our first resistance at 1348.66 (horizontal overlap resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension). A strong drop might occur below this level, pushing price down to our major support at 1332.49 (horizontal swing low support, 61.8% Fibonacci extension, 76.4% Fibonacci retracement).
Stochastic (34,5,3) has also reacted off our major resistance which might be a good precursor for a potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,5,3) has also reacted off our major resistance which might be a good precursor for a potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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