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.
Stochastic (21, 5, 3) bounced nicely off its support at 10.2% where a corresponding rise could occur.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.