Tickmill

Gold is approaching support, potential bounce

Long
SAXO:XAUUSD   Gold Spot / U.S. Dollar
Price is approaching our first support, in line with our horizontal pullback support, 127.2% fibonacci extension and 50% fibonacci retracement, where we could see a bounce above this level to our first resistance target.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks

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

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.