XAUUSD held down by descending channel!
XAUUSD is being held down by its descending channel where a potential reversal at channel resistance 1313 (61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal swing high resistance) could occur, causing price to fall to its support at 1303 (61.8% Fibonacci extension, horizontal swing low support).
Stochastic (55, 5, 3) is making its way to its resistance at 93% where we expect to see a corresponding reversal.
Stochastic (55, 5, 3) is making its way to its resistance at 93% where we expect to see a corresponding reversal.
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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.