XAU/USD Approaching Support, Prepare For A Bounce

XAU/USD is approaching its support at 1298.44 (61.8% & 100% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 1308.68 (38.2% Fibonacci retracement, horizontal swing high resistance).

Stochastic (89, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.

XAU/USD is approaching its support where we expect to see a bounce.

Buy above 1298.44. Stop loss at 1291.79. Take profit at 1308.68.

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