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Short

XAUUSD reversed nicely off its resistance, potential drop!

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
XAUUSD             reversed nicely off its resistance at 1348 (61.8% Fibonacci extension , 50% Fibonacci retracement , horizontal overlap resistance) where it could potentially fall all the way to its support at 1336 (100% Fibonacci extension , 61.8% Fibonacci retracement , multiple swing low support). We have also identified another resistance at 1353 (61.8% Fibonacci retracement ).
Stochastic (55, 5, 3) reversed off its resistance at 95% where a corresponding downward movement could occur.
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