empty
 
 
11.11.2019 03:40 PM
Gold 11.11.2019 - Gold near main confulence Fibonacci support level, watch for buying opportunities

Gold is near the critical confluence support level at $1.447-1.441. In my opinion, Gold is still in downward corrective phase and I do expect the new leg up.

This image is no longer relevant

Due to strong upward trend in the background, I am expecting new up leg and potential re-test of the resistances at $1.514-1.541. Major support levels are set at $1.447 and $1.441.

Any good bottoming formation around this important Fibonacci confluence (FR 38.2%-FR 61.8% and FE 100%) would set a good buy point with the targets at $1.514 and $1.541.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback