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29.11.2022 08:47 AM
Analysis of Gold for November 29,.2022 - Potential for upside continuation

Technical analysis:

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Gold has been trading upside as I expected after the test reject of the key support at the price of $1.740. I still see potential for further rally.

Trading recommendation:

Due to the strong rejection of the Fibonacci confluence in the background, I see potential for further growth.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $1.785

Stochastic oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of $1.740-$1.730

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