Gold concludes the trading week with a decline, hovering near the 3893 level. XAU/USD quotes continue to move within a downward trend, forming a “Wedge” pattern. Moving averages indicate a bearish trend for Gold. Prices have broken below the area between the signal lines, which suggests pressure from buyers and the potential for a subsequent price increase. At this stage, one should anticipate an attempt at a decline, testing the support level near 3725. This would likely be followed by an upward rebound and continued growth for XAU/USD throughout the current trading week, with a potential target above the 4385 level.
GOLD Weekly Forecast XAUUSD November 16 – 20, 2026
An additional signal supporting a rise in Gold prices during the week of November 16–20, 2026, is a rebound from the support line on the Relative Strength Index (RSI) indicator. A second signal is the rebound from the lower boundary of the bullish “Wedge” pattern. The bullish scenario for XAU/USD would be invalidated if the price falls and breaks through the 3205 level. Such a move would signify a breach of the lower boundary of the bullish channel, leading to a continued decline in Gold prices toward a target below 2765. Conversely, a breakout above the resistance area—with quotes closing above 4245—would confirm an upward move, signaling a break through the upper boundary of the “Wedge” pattern and the activation of the pattern’s bullish targets.
GOLD Weekly Forecast XAUUSD November 16 – 20, 2026 suggests an attempt to develop a bearish correction, testing the support level near the 3725 area. This would be followed by a resumption of the rise in gold prices, targeting levels above 4385. A test of the trend line on the Relative Strength Index (RSI) indicator would support this upward movement. The bullish scenario would be invalidated if the price falls and breaks below the 3205 level; such a move would signal a continued decline toward the area below 2765.
