XAUUSD held down by descending channel!
XAUUSD is being held down by its descending channel where a potential reversal at channel resistance 1313 (61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal swing high resistance) could occur, causing price to fall to its support at 1303 (61.8% Fibonacci extension, horizontal swing low support).
Stochastic (55, 5, 3) is making its way to its resistance at 93% where we expect to see a corresponding reversal.
Stochastic (55, 5, 3) is making its way to its resistance at 93% where we expect to see a corresponding reversal.
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