empty
 
 
28.11.2022 05:16 PM
Trading Signal for Gold (XAU/USD) on November 28-29, 2022: sell below $1,759 (200 EMA - overbought)

This image is no longer relevant

Early in the American session, Gold (XAU/USD) is trading around 1,750 below 1,759 (200 EMA) and around the 8/8 Murray. In the European session, the metal tried to consolidate above the 200 EMA but failed. Now it is showing signs of a strong technical correction and it is likely that in the next few hours the price will fall towards the 21 SMA located at 1722.

Investors are eyeing the highly anticipated US November NFP jobs report. The technical outlook for gold price points to a slightly bullish bias in the near term. But first, a technical correction should occur below since the asset is showing levels of exhaustion.

In case gold falls below 1,750 (8/8 Murray), it will be a clear signal to sell with targets at 1,722 (21 SMA). The eagle indicator is giving a negative signal and has reached a level of 95 points, which represents the extremely overbought market.

A daily close above 1,760 could resume the bullish cycle and the price could reach 1,781 or even 1,812 (+2/8 Murray).

On the downside, the 1,722 level (21 SMA) constitutes strong support around 1,700, which is the psychological level and the 6/8 Murray support at 1,687. Below this area, the trend could reverse towards 1,620.

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 $1000 más!
    ¡En Abril, sorteamos $1000 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