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Gold on pullback resistance, potential bearish setup!

Short
Gold Spot / U.S. Dollar (FX:XAUUSD)  
Tickmill Broker  
FX:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns XAUUSD xauusdshort xauusdlong xauusdbuy xauusd4h xauusdupdates xauusdsell xauusdwave Forex
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trendanalysis harmonicpatterns chartpattern xauusd xauusdshort xauusdlong xauusdbuy xauusd4h xauusdupdates xauusdsell xauusdwave forex
Gold has made a pullback to our previously broken major ascending support-turned-resistance line and this has triggered a potential bearish drop from here below major resistance at 1332 (Fibonacci retracement, horizontal breakout level, pullback resistance) towards 1305 support (38.2% Fibonacci retracement, horizontal pullback support).

Stochastic (55,5,3) is seeing major resistance below 99% where we still have good downside potential.

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