XAUUSD (Gold) dropping perfectly, watch for break of support!
XAUUSD dropped perfectly from our major resistance area and is fast approaching intermediate support at 1296. A break of this level could trigger a bearish acceleration downwards towards major support at 1283 (Fibonacci extension, horizontal swing low support). Our major resistance still remains at 1304 (Fibonacci retracement, horizontal overlap resistance, bearish Ichimoku cloud).
Stochastic (89,5,3) is seeing major resistance below 95% where a corresponding reaction could occur.
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 seeing major resistance below 95% where a corresponding reaction could occur.
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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