FX.co - Analysis of Gold for November 28, 2023 - Potential for the breakout mode

2023-11-28T09:06:21

Relevance until2023-11-29

Technical analysis:

Analysis of Gold for November 28, 2023 - Potential for the breakout mode

Gold has been trading sideways at the price of $2.014 and I see potential for the breakout mode in the next period.

Due to the consolidation and contraction, I see potential for the breakout mode.

In case of the upside breakout and hold above resistance at $2.017, I see potential for the further upside movement towards $2.030

In case of the downside breakout of the $2.005, I see potential for the further drop towards $1.991

RSI oscillator is showing divergence in the background.

*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 28, 2023 - Potential for the breakout mode