Gold is approaching resistance, potential reversal
Price is facing bearish pressure from our first resistance, in line with our horizontal pullback resistance, 50% fibonacci retracement and 100% fibonacci extension where we could see a further drop below this level to our first support target. Ichimoku cloud and 20 EMA are showing signs of bearish pressure as well, in line with our bearish bias.
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.