FX.co ★ Analysis of Gold for November 20, 2023 - Buyers in control and potential for the further rally

Technical analysis:

Gold has been trading downside this morning but I found that key support cluster at the price of $1.970 held successfully, which is sign that buyers are in control.

Due to the short-term upside trend and positive reversals on the RSI oscillator, I see potential for the further growth towards upside references.

Upside objectives are set at the price of $1.984 and $1.992

RSI oscillator is showing positive reversal and holding above 40 level, which is good sign for the further rally.

Key support is set at the price of $1.970