28 Jun 2024
📈 [Sell Limit (Reversal)] XAUUSD Bearish reversal?
XAU/USD is rising towards the pivot point of 2,336.96, which is a pullback resistance that is slightly below the 61.8% Fibonacci retracement. A reversal from this level could lead the price to fall to the 1st support level of 2,311.05, which is a pullback support.
Alternative Scenario:
However, if price breaks above the pivot, we could see price rise to the 1st resistance level of 2,354.47, which is an overlap resistance that aligns with the 78.6% Fibonacci retracement.
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