XAUUSD approaching resistance, potential drop!
XAUUSD is approaching our first resistance at 1301.45 (horizontal pullback resistance, 38.2% Fibonacci retracement) where price might potentially drop to our first support at 1288.55 (horizontal swing low support, 76.4% Fibonacci retracement). A breakout below our intermediate support at 1297.49 (horizontal overlap support, 38.2% Fibonacci retracement) might provide the bearish acceleration for price to drop to our first support level.
RSI is also seeing a bearish exit in where we might see a corresponding drop in price.
RSI is also seeing a bearish exit in where we might see a corresponding drop in price.
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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.