XAUUSD testing resistance, potential further reversal!
XAUUSD has reversed nicely off its resistance at 1337 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it has the potential to fall to its support at 1319 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support). We have also identified another resistance at 1347 (100% Fibonacci extension, horizontal swing high resistance).
Stochastic (34, 5, 3) made a corresponding reversal off its resistance at 94%.
Stochastic (34, 5, 3) made a corresponding reversal off its resistance at 94%.
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