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03.01.2019 06:52 AM
XAU/USD Testing Resistance, Prepare For Reversal

XAU/USD is testing its resistance at 1287.98 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 1256.55 (38.2% Fibonacci retracement) is expected.

Stochastic (55, 5, 3) has reversed off its resistance at 95% where a corresponding drop is expected.

XAU/USD is testing its resistance where we expect to see a reversal.

Sell below 1287.98. Stop loss at 1319.58. Take profit at 1256.55.

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Dean Leo,
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