XAUUSD approaching resistance, potential drop!
XAUUSD is approaching our first resistance at 1240.00 (horizontal overlap resistance, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur pushing price down to our major support at 1225.96 (horizontal swing low support, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where 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 where 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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