GOLD continue to move as part of the fall and the beginning of the “Triangle” pattern. 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 a bullish correction and test the resistance level near the 1840 area. Where can we expect a rebound and the continuation of the fall in the price of GOLD with a target below the level of 1750.
XAU/USD Forecast and GOLD analysis November 25, 2020
An additional signal in favor of reducing the XAU/USD quotes will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the “Triangle” pattern. Cancellation of the option of falling GOLD prices on November 25, 2020 will be a strong growth and a breakdown of the level of 1885. This will indicate a breakdown of the resistance area and continued growth to the area above the level of 1965. Expect to accelerate the fall in XAU/USD quotes with the breakdown of the support area and closing of the price below 1775.
XAU/USD Forecast and GOLD analysis November 25, 2020 implies an attempt to test the resistance area near the level of 1840. Further, the continuation of the fall in quotations with a target below the level of 1750. Cancellation of the option to reduce GOLD prices will be made by a strong growth and a breakdown of the level of 1885. This will indicate on the breakdown of the resistance area. In this case, we should expect a continuation of the rise in GOLD with a potential target above the level of 1965.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
