GOLD continue to move within the fall and left the bullish channel. At the time of the publication of the forecast, the price of GOLD is 1791 Dollars per Troy Oz. Moving averages indicate a short-term bullish trend. Prices broke through the area between the signal lines downward, which indicates pressure from the sellers of the asset and a potential continuation of the fall from the current levels. At the moment, we should expect an attempt to develop growth and test the resistance level near the 1815 area. Where can we expect a rebound down and the continued fall in the price of GOLD with a potential target below the level of 1725.
XAU/USD Forecast and GOLD analysis November 24, 2021
An additional signal in favor of falling XAU/USD quotes will be a test of the resistance area on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option of falling GOLD prices on November 24, 2021 will be a strong growth and a breakdown of the level of 1850. This will indicate a breakdown of the resistance area and continued growth to the area above the level of 1895. Expect to accelerate the fall in XAU/USD quotes with the breakdown of the support area and closing of the price below 1780.
XAU/USD Forecast and GOLD analysis November 24, 2021 implies an attempt to test the resistance area near the level of 1815. Further, the continuation of the fall in quotations with a target below the level of 1725. Cancellation of the option of falling GOLD prices will be a strong growth in the asset value in the markets and a breakdown of the level 1850. This will indicate a breakdown of the resistance area. In this case, we should expect the GOLD price to continue to rise with a potential target above the level of 1895.
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