Potential gold correction

FX:XAUUSD   Gold Spot / U.S. Dollar
53 2 0
The stochastic (14,3,3) with boundaries(90,10) has given us a reliable sell signal, in addition to level R2 acting as resistance to further upward price movement. This could be the beginnings of a minor c-wave             that may lead below 1000 (for instance 960 ultimate target).
Longer view further details are presented herein.

cfetrader cfetrader
Short term there is a probable cup & handle formation that may lead a reaction towards resistance level R2, provided the handle isn't negatively breached.

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