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21.11.201916:11 Forex Analysis & Reviews: Gold 11.21.2019 - Rejection of the multi Fibonacci confluence at $1.4652, possible upside movement and test of $1.478.

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Gold has been trading downwards at the price of $1.465 but I saw strong rejection and potential for upside rotation. I found major Fibonacci confluence at the price of $1.465 and exactly of that level buyers came in, which is for me strong sign the level was seen and accepted by most of traders.

My advice is to watch for buying opportunities on the dips on the lower frames 5/15 minute time-frames in order to time your entry better. Upward targets are set at the price of $1.477 and $1.483.

Stochastic oscillator is showing oversold condition on the 1H time-frame and bullish divergence, which is sign that sellers got no power for further downside at the moment.

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