XAUUSD reversed from resistance, potential drop!

١٨ مايو ٢٠٢٠

XAUUSD reversed off its resistance at 1767.712 where it could potentially drop further to 1666.854.
We turned bearish as price is approaching first resistance, in line with our 127.2% fibonacci retracement and 100% fibonacci extension . Price is likely to reverse off 1st resistance towards 1st support. Stochastic is also showing signs of bearish pressure.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.