XAUUSD approaching resistance, potential drop!
XAUUSD is approaching our first resistance at 1237.74 (horizontal pullback resistance, 50% Fibonacci retracement) and price might potentially drop to our major support at 1218.37 (horizontal swing low support, 76.4% Fibonacci retracement)
Stochastic (34,5,3) is also approaching resistance and we might see a potential drop in price should it react off this level.
Stochastic (34,5,3) is also approaching resistance and we might see a potential drop in price should it react off this level.
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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.