XCUUSD bounced from support, potential for a further rise!
XCUUSD bounced off 2.32788 where it could potentially rise further to 2.38794.
We remain bullish as price is bouncing nicely off our first support in line with our 78.6% fibonacci retracement where we are expecting a further push up to our first resistance level , in line with our 61.8% fibonacci retracement and horizontal swing high resistance. Stochastic is approaching support as well.
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