XAUUSD reversed nicely off resistance, potential further drop!
XAUUSD reversed nicely off its resistance at 1307 (61.8% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal swing high resistance) where price could potentially fall to its support at 1293 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) reversed nicely off the resistance at 96% where a corresponding move down could occur.
Stochastic (55, 5, 3) reversed nicely off the resistance at 96% where a corresponding move down could occur.
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Whoo! Price plummeted perfectly!
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