Gold at crucial inflexion point, potential upcoming drop!

Gold at crucial inflexion point, potential upcoming drop!


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.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.



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