FX.co ★ Analysis of Gold for November 22,.2021 - Downside breakout of rising channel

Technical analysis:

Gold has been trading downside and there is chance for the bigger drop in the next period. There is the breakout of the rising channel in the background.

Trading recommendation:

Due to breakout of the rising channel and the buying climax in the background, I see potential for the downside opportunities.

Watch for selling opportunities on the rallies with the downside targets at $1,824 and $1,813.

Stochastic is showing continuation pattern, which is another confirmation for further downside.

Resistance level is set at $1,848