XAUUSD (Gold) dropping perfectly, watch for break of support!

2018年5月28日

XAUUSD dropped perfectly from our major resistance area and is fast approaching intermediate support at 1296. A break of this level could trigger a bearish acceleration downwards towards major support at 1283 (Fibonacci extension, horizontal swing low support). Our major resistance still remains at 1304 (Fibonacci retracement, horizontal overlap resistance, bearish Ichimoku cloud).
Stochastic (89,5,3) is seeing major resistance below 95% where a corresponding reaction could occur.

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