Gold lookinmg poised for a major bounce!
XAUUSD is seeing major support above 1285 ( Fibonacci retracement , fibonacci extension , bullish divergence ) and a strong bounce could occur at this level to push prices all teh way up to major resistance at 1302 ( Fibonacci retracement , fiubonacci extension, horizontal pullback resistance).
Stochastic (55,5,3) also sees major support above 2.7% where a corresponding bounce could occur. We can also see bullish divergence vs price signalling that a bounce could be impending.
Stochastic (55,5,3) also sees major support above 2.7% where a corresponding bounce could occur. We can also see bullish divergence vs price signalling that a bounce could be impending.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results