FX.co - Analysis of Gold for November 18,.2021 - Trading range and potential for the breakout

2021-11-18T13:12:09

Relevance until2021-11-19

Technical analysis:

Analysis of Gold for November 18,.2021 - Trading range and potential for the breakout

Gold has been trading sideways at the price of $1,863 but there is potential for the breakout in next days.

Trading recommendation:

Watch for the breakout to confirm further direction.

The upside breakout of the resistance at $1,877 can lead Gold towards $1,900

The downside breakout of the support at the price of $1,848 can lead Gold towards the level of $1,835.

Possible scenario is that Gold can be locked in trading range until the FOMC meeting minutes next week.

*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 18,.2021 - Trading range and potential for the breakout