empty
 
 

26.11.202123:12 Forex Analysis & Reviews: Gold short-lived rebound, back at support

Gold plunged from today's low of 1,815.57 and now it is traded at 1,793.03 above 1,780.41 today's low. In the short term, the yellow metal is trapped within a range pattern. Escaping from this formation could bring new trading opportunities.

XAU/USD rebounded as the Dollar Index was into a corrective phase. Also, a new COVID-19 variant brought a risk-off sentiment into the markets, that's why the yellow metal was very attractive for buyers.

XAU/USD range pattern

Exchange Rates 26.11.2021 analysis

Gold is trappped between 1,812.43 and 1,782.04 levels. It has registered only a false breakout with great separation through 1,812.43 and above the median line (ml) siganling that the rebound could be over.

The yellow metal tries to rebound after its sell-off, it has failed to close below the uptrend line and under 1,782.04. It could still increase as long as it stays above the uptrend line.

XAU/USD prediction

A valid breakdown below the uptrend line and under 1,782.04 could activate a deeper drop. Staying above the uptrend line followed by a valid breakout above the median line (ml) could announce potential leg higher.

*Prezentowana analiza rynku ma charakter informacyjny i nie jest przewodnikiem po transakcji.

Ralph Shedler,
Ekspert analityczny InstaForex
© 2007-2022
Zarób na rekomendacjach analityka już teraz
Zasil konto handlowe
Otwórz konto handlowe w InstaForex

Dzięki analizom InstaForex zawsze będziesz na bieżące z trendami rynkowymi! Zarejestruj się w InstaForex i uzyskaj dostęp do jeszcze większej liczby bezpłatnych usług dla zyskownego handlu.

Nie możesz teraz rozmawiać przez telefon?
Zadaj pytanie na czacie.