GOLD completes the trading week near the 1855 area. XAU/USD quotes continue to move as part of the growth and the beginning of the development of the ”Triangle” model. Moving averages indicate a bullish trend for Gold. Prices have broken the area between the signal lines upward, which indicates pressure from buyers and a potential continuation of the price rise. At the moment, we should expect an attempt to develop a price decline and a test of the support level near the 1805 area. Further, the GOLD price will continue to rise with a potential target above the level of 2085.
GOLD Price Forecast and Analysis November 22 — 26, 2021
An additional signal in favor of a rise in quotations and prices for GOLD in the current trading week November 22 — 26, 2021 1 will be a test of the trend line on the relative strength index (RSI), as we can see, the resistance line is being tested, so you should not expect the price rise right now. The second signal will be a rebound from the upper border of the “Triangle” pattern. Cancellation of the growth option for XAU/USD quotes will be a fall and a breakdown of the area of 1695. This will indicate a breakdown of the support level and a continued fall in GOLD prices with a target below 1625. Confirmation of the growth in the value of the asset will be a breakdown of the resistance area and closing of quotes above the level of 1905.
GOLD Price Forecast and Analysis November 22 — 26, 2021 assumes an attempt to test the support level near the 1805 area. Then, the GOLD prices will continue to rise with a target above the level of 2085. A test of the trend line on the relative strength index (RSI) will be in favor of raising the quotes. Cancellation of the GOLD growth option will be a fall and a breakdown of the level of 1695. This will indicate a continued decline in quotations to the area below the level of 1625.
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