FX.co ★ Analysis of Gold for November 05,.2021 - Key resistance zone on the test

Technical analysis:

Gold has been trading upside after the financial events today but I see potential extreme condition and buying climax.

Trading recommendation:

Due to extreme condition and potential buying climax, my advice is to watch for selling opportunities.

Major supply zone is set at $1,804-$1,810.

Downside targets are set at the price of $1,790 and $1,785

Stochastic oscillator is showing overbought condition, which is another sign for the extreme bull read this morning....