XAUUSD near key resistance, could possibly drop
XAUUSD reversed off our first resistance at 1291.78 (61.8% Fibonacci extension,61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially drop to its support at 1266.86(horizontal swing low support, 61.8% Fibonacci extension, 50% Fibonacci retracement).
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results