FX.co - Analysis of Gold for November 25,.2021 - Upside trendline held successfully

2021-11-25T12:53:26

Relevance until2021-11-26

Technical analysis:

Analysis of Gold for November 25,.2021 - Upside trendline held successfully

Gold has been trading sideways at the price of $1,790. I see potential for the upside reaction due to oversold condition and test of the support.

Trading recommendation:

Due to oversold condition and potential for upside movement////

Watch for buying opportunities on the dips with the upside objectives at $1,821.

Gold didn't have power to break rising trend line, which is another sign that upside is in the play.

Stochastic is showing oversold condition, which is sign that there is potential for the upside rotation.

Support level is set at $1,780

*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 25,.2021 - Upside trendline held successfully