#XAUUSD approaching pivot, potentail for a reversal!
Price is approaching pivot level of 1789.97 where we have 61.8% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal overlap resistance lining up. A reversal from this level might see price take support at 1750.61, which is in line with 61.8% Fibonacci retracement levelhorizontal overlap support. Finally, price is unlikely to surpass our strong resistance at 1808.79, which coincides with 78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap resistance . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
1,789.97
Why we like it:
61.8% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal overlap resistance
1st Support:
1,750.610
Why we like it:
61.8% Fibonacci retracement level horizontal overlap support
1st Resistance:
1,808.790
Why we like it:
78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap resistance
Pivot:
1,789.97
Why we like it:
61.8% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal overlap resistance
1st Support:
1,750.610
Why we like it:
61.8% Fibonacci retracement level horizontal overlap support
1st Resistance:
1,808.790
Why we like it:
78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap resistance
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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.
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.