XAUUSD broke out of resistance, potential rise!
XAUUSD is approaching our first support at 1307.36 (horizontal overlap resistance). A strong bounce might occur above this level, pushing price up to our major resistance at 1325.27 (horizontal swing high resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement, Elliot wave structure). A breakout above our intermediate resistance at 1320.60 (horizontal overlap resistance) might provide the bullish acceleration to our major resistance level.
Stochastic (55,5,3) is also seeing a bullish divergence and is bouncing off our major support where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is also seeing a bullish divergence and is bouncing off our major support where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Come join us today at : easymarkets.com/
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.