XAUUSD testing support, potential bounce!

٥ أبريل ٢٠١٨

Price is testing our first support at 1328.73 (horizontal overlap support, 76.4% Fibonacci retracement) which coincides with our short term ascending support line. A strong bounce might occur above this level to push price up to our major resistance at 1340.80 (61.8% Fibonacci retracement, 61.8% Fibonacci extension).

Stochastic (21,5,3) is also approaching our major support and we might see a corresponding rise in price should it bounce off this level.

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