FX.co - Analysis of Gold for November 24,.2021 - Test of the rising trendline

2021-11-24T12:30:53

Relevance until2021-11-25

Technical analysis:

Analysis of Gold for November 24,.2021 - Test of the rising trendline

Gold has been trading sideways today at the price of $1,785. The key support is set at $1,785 and price action around will decide further direction.

Trading recommendation:

Potential rejection of key support at the price of $1,785 can lead Gold towards $1,820

Downside breakout of $1,785 can lead gold towards $1,765

Since Gold already had 4 consecutive downside days in the background, there is slightly bigger chance for the upside rotation in next period.

*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 24,.2021 - Test of the rising trendline