FX.co ★ Gold testing major resistance, prepare for a drop

Price is now testing major resistance at 1360 (ABC Fibonacci extension, bearish price action, bearish harmonic formation) and a strong reversal could occur at this level to push price down to at least 1345 support (Fibonacci retracement, horizontal pullback support).Stochastic (34,5,3) is seeing major resistance at 96% where a corresponding reaction could occur.

Sell below 1360. Stop loss at 1366. Take profit at 1345.