FX.co ★ Analysis of Gold for November 23,.2021 - Test of the rising trendline

Technical analysis:

Gold has been trading strongly to the downside but there is important support at the price of $1,785.

Trading recommendation:

Due to extreme condiiton and potential oversold condition, watch for potential upside reaction. The confirmation of the first upside correction might be 2 consecutive higher highs and higher lows on 15/30 minute time-frame.

Eventual downside breakout of support at the price of $1,770 can lead gold for bigger drop towards $1,723