FX.co - Trading Signals for GOLD (XAU/USD) for November 28-29, 2024: buy above $2,638 (21 SMA

28 November 2024 at 3:37PM (UTC+0)

Relevance until12 December 2024 at 3:37PM (UTC+0)

Trading Signals for GOLD (XAU/USD) for November 28-29, 2024: buy above $2,638 (21 SMA - 200 EMA)

Gold is trading around 2,646 below the 200 EMA and below 4/8 Murray.

Yesterday gold approached this area representing strong resistance. As the instrument could not break it, the price resumed its bearish cycle.

If gold consolidates above 2,638 (21 SMA) in the next few hours, the outlook could be positive. So, we could expect a break above 2,656 and the price could reach 2,682 and even 5/8 Murray around 2,695.

On the contrary, with a break below 2,635, traders could see gold fall to 2,617. Eventually, the metal could reach 2/8 Murray at 2,578.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

#Technical analysis #EUR #GBP #USD #RUB #JPY #NZD #EURUSD #GBPUSD #USDJPY #USDCHF

Analytical expert

Dimitrios Zappas

InstaFintech Group @ 2007-2025

FX.co ★ Trading Signals for GOLD (XAU/USD) for November 28-29, 2024: buy above $2,638 (21 SMA - 200 EMA)

Forex Analysis

Trading Signals for GOLD (XAU/USD) for November 28-29, 2024: buy above $2,638 (21 SMA - 200 EMA)