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Gold forming a strong cup and handle reversal, watch for the dro

Short
Gold Spot / U.S. Dollar (FX:XAUUSD)  
Tickmill Broker  
FX:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns Gold goldshort goldlong XAUUSD XAU USD xauusdshort xauusdlong xauusdidea
105
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trendanalysis harmonicpatterns chartpattern gold goldshort goldlong xauusd xau usd xauusdshort xauusdlong xauusdidea

Gold has formed a really strong cup and handle reversal with our 1st resistance at 1344 (Fibonacci retracement, horizontal overlap resistance) and a strong reversal could occur at this level to push price down to at least 1325 support (Fibonacci retracement, horizontal overlap support, Fibonacci extension).

RSI (55) has made a bearish exit signaling that further bearish action could be expected.

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