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XAU/USD (GOLD): Technical Analysis | November 12, 2020




XAU/USD (GOLD): Technical Analysis | November 12, 2020

  • Update Time : Thursday, November 12, 2020
  • 78 Time View
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XAU/USD (GOLD): Technical Analysis | November 24, 2020
XAU/USD (GOLD): Technical Analysis | November 24, 2020

MarketDeal24.Com – The price of GOLD fell from $1,878 in November’s four-hour time frame to $1,877 and $1,887 yesterday as the US dollar index rose from 92.13. The recent price drop has brought price to Quasimodo support $1,852, with support below $1,835.

In the big time frame, the weekly price is currently below the support $1,882, followed by the channel resistance (currently support) from the maximum of $1,703. Daily time frame support $1,841 is currently paired with weekly channel support. There is also a downward wedge pattern in the daily time frame between $2,075 / $1,862.

Important Things To Consider:

  • Quasimodo Formation 1,852 will serve as potential support in today’s four-hour time frame.
  • And if buyers enter the market, they have to keep an eye on the four-hour resistance of $1,878- $1,887.

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