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22.11.202315:53 Analisis Forex & Kajian: Technical analysis on Gold for November 22nd, 2023.

Exchange Rates 22.11.2023 analysis

Red lines- bullish channel

Gold price is trading around $2,000. Short-term trend remains bullish as price continues making higher highs and higher lows. Gold price continues to trade inside the red upward sloping channel since the $1,920 low. Price is challenging the October highs. Short-term support by the lower cloud boundary is found at $1,983. As long as we trade above this level we expect Gold price to continue higher. A pull back towards the $1,980 level is justified and highly probable for the coming trading sessions. If Gold price breaks below $1,994, this will be the first sign of weakness and will increase chances for a move towards $1,980 support.

* Analisis pasaran yang disiarkan di sini adalah bertujuan untuk meningkatkan kesedaran anda, tetapi tidak untuk memberi arahan untuk membuat perdagangan.

Alexandros Yfantis,
Analytical expert of InstaSpot
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