#XAUUSD approaching pivot, potential for rise!
Price has broken above our pivot level at 1868.5 which is in line with l & horizontal swing high resistance . We could potentially see a further rise from here towards 1900.92, which coincides with & horizontal overlap resistance. Finally, we can expect price to take support at 1833.85, which coincides with 38.2% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1,868.50
Why we like it:
l & horizontal swing high resistance
1st Support:
1,833.850
38.2% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap support
1st Resistance:
1,900.920
& horizontal overlap resistance
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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.