Short

XAUUSD Testing Resistance, Potential Reversal

XAUUSD is testing its resistance at 1236.82 (61.80% & 100% Fibonacci extension , 38.2% Fibonacci retracement , horizontal overlap resistance) where it could potentially reverse down to its support at 1215.95 (61.80% Fibonacci extension , 38.2% Fibonacci retracement , horizontal overlap support). Stochastic (55, 5, 3) is approaching its resistance at 95% and there may be bearish divergence where a corresponding reversal could occur.

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