08.11.201613:13 Forex Analysis & Reviews: Technical analysis of Gold for November 8, 2016

Long-term review

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Gold continues trading near both 50- and 200-Moving Averages as well as near 38.2% Fibs support (1283). The price remains very attractive for buying in the short to medium term. Consider buying Gold while it is trading near $1,283, targeting $1,309 area which is 61.8% Fibs retracement level. The suggested stop loss is $1,273.

Support: $1,283, $1,267

Resistance: $1,296, $1,309

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