Short

XAUUSD Approaching Resistance, Potential Reversal

XAUUSD is approaching its resistance at 1236 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support 1211 (100% Fibonacci extension, 23.6% Fibonacci retracement, horizontal pullback support). Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal could occur.

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