FX.co - Analysis of Gold for November 15, 2023 - Key pivot cluster on the test

2023-11-15T09:41:09

Relevance until2023-11-16

Technical analysis:

Analysis of Gold for November 15, 2023 - Key pivot cluster on the test

Gold has been trading upside and the key pivot cluster is on the test at $1.975. There is the chance for the rejection or the upside continuation.

In case of the rejection of the key pivot cluster, I see potential for the downside rotation towards $1.959 and $1.948

In case of the upside breakout and hold above key resistance cluster, I see potential for the rally towards $2.003

RSI oscillator is showing upside reading above 50 level, whic his sign that trend is to the upside.

*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 15, 2023 - Key pivot cluster on the test