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21.11.2023 11:09 AM
Analysis of Gold for November 21, 2023 - Re-test of the support and potential for the further rally

Technical analysis:

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Gold has been trading upside in the background and I found breakout of the resistance at $1.985, which is good sign for the further upside movement.

Due to the short-term upside trend and potential for re-test of the support, I see potential for teh higher prices towards next upside reference.

Upside objective is set at $2.000

RSI oscillator is showing reading above 50 level and there is the upside trend condition, which is good sign for the further rally.

Support level is set at $1.985

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