XAUUSD approaching resistance, potential drop!
XAUUSD is approaching our resistance at 1308.29 (horizontal pullback resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 1299.48 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback support).
Stochastic is also approaching resistance and seeing a bearish divergence 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 is also approaching resistance and seeing a bearish divergence 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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