FX.co - Analysis of Gold for November 19,.2021 - Breakout might be in the play

19 November 2021 at 3:43PM (UTC+0)

Relevance until20 November 2021 at 3:43PM (UTC+0)

Technical analysis:

Analysis of Gold for November 19,.2021 - Breakout might be in the play

Gold is still in the strong sideways regime and I expect this regime to be active until the FOMC meeting minutes next week.

Trading recommendation:

Due to strong sideways condition in last few days and low volume on the market, I see potential for the breakout in next period.

Upside breakout of resistance at the price of $1,877 can lead us towards $1,900

Downside breakout of support at $1,841 can lead us towards $1,823

Watch for the breakout to confirm further direction....

*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 19,.2021 - Breakout might be in the play