GOLD Price Forecast and Analysis November 11 — 15, 2019


GOLD completes the trading week near the area of ​​1457. Quotes XAU/USD continue to move as part of the fall and the rising channel. Moving averages indicate a bullish trend for GOLD, prices returned to the area between the signal lines, indicating a probable upward rebound. At the moment, we should expect an attempt to correct prices and test the resistance level near the area of ​​1500. Further, the continuation of the fall in the price of GOLD with a potential target below the level of 1345.

GOLD Price Forecast and Analysis November 11 — 15, 2019

An additional signal in favor of falling quotes and GOLD prices in the current trading week November 11 — 15, 2019 will be a test of the broken trend line on the relative strength index (RSI). The second signal will be a rebound from the resistance area. Cancellation of the option of falling XAU/USD quotes will be made by strong growth and a breakdown of the area of ​​1535. This will indicate a breakdown of the resistance level and continued growth in Gold prices with a target above the level of 1595. A confirmation of the fall in the value of the asset will be a breakdown of the lower boundary of the ascending indicator and closing quotations below the level of 1425.

GOLD Price Forecast and Analysis November 11 — 15, 2019

GOLD Price Forecast and Analysis November 11 — 15, 2019 suggests an attempt to test the resistance level near the area of ​​1500. Then, the continuation of the fall in Gold prices with a target below the level of 1345. A test of the trend line on the relative strength index (RSI) will be in favor of lowering quotes. Cancellation of the option of falling Gold will be a strong growth and the breakdown of the level of 1535. This will indicate a continued rise in quotations to the area above the level of 1595.


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