empty
 
 
19.11.2021 04:38 PM
Gold upside pressure intensifies

The price of gold is trading at 1,863.73 level far above 1,851.62 today's low. As you already know from my previous analyses, the bias remains bullish despite temporary declines. The yellow metal dropped a little today only because the Dollar Index has rallied.

Today, the volatility was very high, so anything could happen in the short term. The Dollar Index increased as much as 96.23 level where it has found resistance. DXY failed to reach the 96.26 previous high. The price of gold is still under pressure after the Canadian retail sales data come in better than expected earlier. We'll have to wait for a strong bullish signal before deciding to go long.

XAU/USD Attractive For Buyers!

This image is no longer relevant

As you can see on the h4 chart, XAU/USD continues to pressure the descending pitchfork's upper median line (uml) which stands as a dynamic resistance. The previous H4 candle signaled that the upside pressure is high.

Gold failed to reach the weekly pivot point of 1,848.72 signaling strong buyers. A valid breakout through the descending pitchfork's upper median line (uml) could activate potential further growth.

XAU/USD Prediction!

The bias is bullish, so jumping and closing above 1,868.62 static resistance is seen as a buying opportunity. Gold could still grow as long as it stays above the pivot point and above the channel's upside line. 1,900 psychological level is seen as an important upside target.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $3000 más!
    ¡En Septiembre, sorteamos $3000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback