Gold reversed strongly, watch for break of major support

FX:XAUUSD   Gold / US-Dollar
Gold tested our major resistance and reversed perfectly from 1361 ( ABC Fibonacci extension , horizontal swing high resistance) pushing price all the way down to our 1344 support ( Fibonacci retracement , horizontal pullback support) as expected before bouncing up. This remains the key support to be broken before potentially another drop to 1325 support ( Fibonacci retracement , horizontal swing low support).

Stochastic (55,5,3) is seeing major resistance at 99% where a corresponding reaction has occurred. Next major support is at 49% which needs to be broken to trigger a bigger bearish drop.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Guys, get more real-time updates on our trading ideas here : https://t.me/tickmillroom

This analysis is provided as general market commentary and does not constitute investment advice.
Thanks , your analysis makes a lot of sense.
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Forex-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden