FX.co ★ Gold is approaching support, potential bounce!

Price is facing bullish pressure from our first support in line with our ascending trend line, 38.2%, 78.6% fibonacci retracement and 61.8% fibonacci extension where we could see a bounce above this level.

Trading Recommendation

Entry: 1984.13

Reason for Entry:

ascending trend line, 38.2%, 78.6% fibonacci retracement and 61.8% fibonacci extension

Take Profit: 2015.65

Reason for Take Profit:

Horizontal swing high resistance

Stop Loss: 1967.67

Reason for Stop Loss:

50% fibonacci retracement, 100% Fibonacci extension