For Traders

Analytical Reviews

Technical analysis

25.11.202014:28 Forex Analysis & Reviews: Analysis of Gold for November 25,.2020 - Potential completion of the ABC upside correction and downside rotation towards $1.800

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.

here is still quite a degree of silence surrounding the latest round of talks

Both sides aren't giving much away and as the saying goes, silence is golden. It could very well just be some political theater before we get some imminent announcement of a makeshift agreement as alluded to earlier in the weekBut we'll see.

Further Development

Analyzing the current trading chart fo Gold, I found that there is potential completion of the upside correction ABC, which is sign that we might see furhter downside movement.

Watch for selling opportunities on the the rallies using the intraday charts. Downward targets are set at the price of $1,800 and $1,790

Stochastic oscillator is in overbought zone, which is another sign of weakness.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got VIX and Coffee today and on the bottom Lumber and Cocoa.

Gold is positive today on the list....

Key Levels:

Resistance: $1,815

Support levels: 11,800 and $1,790

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.