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Tickmill
May 18, 2018 8:18 AM

Gold lookinmg poised for a major bounce! Long

Gold/U.S. DollarFXCM

Description

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.
Comments
ICFX
Yes, falling wedge is a bulish reversal sign
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