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FX.co ★ Analysis of Gold for November 24, 2023 - Symmetrical triangle in creation, potential for the breakout

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Forex Analysis:::2023-11-24T16:24:20

Analysis of Gold for November 24, 2023 - Symmetrical triangle in creation, potential for the breakout

Technical analysis:

Analysis of Gold for November 24, 2023 - Symmetrical triangle in creation, potential for the breakout

Gold has been trading sideways at the price of $1.998 and I see potential for the breakout mode due to consolidation in creation.

In case of the upside breakout of the resistance at $2.006, I see potential for the further growth towards the level of $2.020

In case of the breakout of the support at $1.985, I see potential for the drop towards $1.970

RSI oscillator is showing upside range structure, which gives more odds for the upside breakout.

Analyst InstaForex
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