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XAU/USD (GOLD): Technical Analysis | November 26, 2020




XAU/USD (GOLD): Technical Analysis | November 26, 2020

  • Update Time : Thursday, November 26, 2020
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XAU/USD (GOLD): Technical Analysis | November 26, 2020
XAU/USD (GOLD): Technical Analysis | November 26, 2020

MarketDeal24.Com – GOLD rose slightly against the US dollar on Wednesday, Gold was hovering around the $1,800 level and four-hour Quasimodo support $1,802.

If four-hour buyers can’t hold the price at $1,800, there could be a potential fakeout at $1,800 in the daily timeframe and the price could go up to the 200-day SMA (orange – $1,797).

Important Things To Consider:

  • Breaking $1,800 in a four-hour time frame will test the price in the daily time frame at the 200-day SMA, but in this case traders should keep an eye on $1,797.
  • If the price stays below $1,800, the price may move towards weekly support $1,787.

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