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FX.co ★ Analysis of Gold for November 24,.2022 - Strong rejection of the Fibonacci confluence support

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Forex Analysis:::2022-11-24T09:37:37

Analysis of Gold for November 24,.2022 - Strong rejection of the Fibonacci confluence support

Technical analysis:

Analysis of Gold for November 24,.2022 - Strong rejection of the Fibonacci confluence support

Gold has been trading upside as I expected and I found strong rejection of the Fibonacci confluence in the background, which is good sign for further growth.

Trading recommendation:

Due to the strong upside pressure in the background and rejection of the key 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

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

Key support is set at the price of $1.730

Analyst InstaForex
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