29.11.202314:15 Forex Analysis & Reviews: Technical analysis on Gold for November 29th, 2023.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Red lines- bullish channel

Gold price is trading around $2,040. Price made new 6 month highs yesterday around $2,051. Short-term trend remains bullish. Price continues making higher highs and higher lows inside the red upward sloping channel. Support by the lower channel boundary is at $2,012. The RSI has just entered into overbought area. A pull back towards $,2010 is possible and justified. Bulls remain in control of the trend. More upside is expected for Gold.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.