XAUUSD approaching its resistance, potential to drop!
XAUUSD approaching its resistance at 1339 (61.8% Fibonacci retracement, horizontal swing high resistance) where a potential reaction could occur, causing price to fall to its 1st support at 1319 (61.8% Fibonacci extension horizontal overlap support). If it breaks past this level, it could potentially fall to its next support at 1305 (61.8^ Fibonacci extension, 100% Fibonacci extension, horizontal pullback support). We have also identified another resistance at 1361 (horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reaction could occur.
Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reaction could occur.
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