Gold on pullback resistance, potential bearish setup! för FX:XAUUSD av Tickmill

trendanalysis harmonicpatterns chartpattern xauusd xauusdshort xauusdlong xauusdbuy xauusd4h xauusdupdates xauusdsell xauusdwave forex

Gold has made a pullback to our previously broken major ascending support-turned-resistance line and this has triggered a potential bearish drop from here below major resistance at 1332 (Fibonacci retracement, horizontal breakout level, pullback resistance) towards 1305 support (38.2% Fibonacci retracement, horizontal pullback support).

Stochastic (55,5,3) is seeing major resistance below 99% where we still have good downside potential.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results

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