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Gold Spot / U.S. Dollar
Short

XAUUSD reversed from resistance, potential drop!

By Tickmill
Broker

XAUUSD reversed off its resistance at 1767.712 where it could potentially drop further to 1666.854.
We turned bearish as price is approaching first resistance, in line with our 127.2% fibonacci retracement and 100% fibonacci extension . Price is likely to reverse off 1st resistance towards 1st support. Stochastic is also showing signs of bearish pressure.
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Chart PatternsHarmonic PatternsTrend AnalysisXAUUSDxauusd4hxauusdanalysisxauusdbuyxauusdlongxauusdsellxauusdshortxauusdupdates
Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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