XAUUSD approaching resistance, potential drop!

٦ سبتمبر ٢٠١٨

XAUUSD is approaching our first resistance at 1211.01 (horizontal overlap resistance, 61.8% Fibonacci extension, 23.6% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 1191.66 (horizontal swing low support, 78.6%, 50% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (55,5,3) is also approaching support and a bounce off this level might see a corresponding rise in price.
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