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Gold testing major resistance, watch for a potential reversal!

Short
Gold Spot / U.S. Dollar (FX:XAUUSD)  
Tickmill Broker  
FX:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns Gold goldidea goldusd XAUUSD xauusdshort xauusdlong goldtrading xauusdidea goldanalysis
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trendanalysis harmonicpatterns chartpattern gold goldidea goldusd xauusd xauusdshort xauusdlong goldtrading xauusdidea goldanalysis
Gold is testing major resistance at 1361 (ABC Fibonacci extension, horizontal swing high resistance) and a reversal could occur at this level to push price down towards 1344 support (Fibonacci retracement, horizontal pullback support) before 1325 support (Fibonacci retracement, horizontal swing low support).

Stochastic (55,5,3) is seeing major resistance at 99% where a corresponding reaction could occur.

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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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