XAUUSD approaching resistance, potential drop!

24 ธ.ค. 2018

XAUUSD is approaching our first resistance at 1263.30 (horizontal swing high resistance, 100% Fibonacci extension, 50% Fibonacci retracement, ascending channel’s resistance) where a strong drop might occur below this level pushing price down to our major support at 1250.19 (23.6% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (34,5,3) is also approaching resistance and seeing a bearish divergence where we might see a corresponding drop in price should it react off this level.
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