FX.co - Analysis of Gold for November 09,.2021 - Key resistance leveel at $1.830 on the test

2021-11-09T12:49:17

Relevance until2021-11-10

Technical analysis:

Analysis of Gold for November 09,.2021 - Key resistance leveel at $1.830 on the test

Gold has been trading upside as I expected. The price is near the critical pivot level at $1,833.

Trading recommendation:

Important resistance zone around $1,830 is on the test. Watch for the breakout on high volume to confirm further upside continuation.

In case of the upside breakout, watch for pullbacks with the upside target at $1,862

Stochastic oscillator is showing that fast lane made new 20-day high, which is another sign that Gold is in very strong upside cycle.

Support level is set at $1,809

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for November 09,.2021 - Key resistance leveel at $1.830 on the test