XAUUSD approaching resistance, potential drop!
XAUUSD is approaching our first resistance at 1233.67 (horizontal swing high resistance, 61.8% Fibonacci extension, 78.6% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1211.05 (horizontal swing low support, 61.8% Fibonacci extension, 61.8 % Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding 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 (89,5,3) is also approaching resistance and we might see a corresponding 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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