Gold price begins positively – Analysis - 29-11-2022

Gold price ended yesterday with clear negativity below 1746.40, but it begins today positively to surpass this level and attempts to hold above it again, motivated by stochastic positivity that appears clearly on the four hours’ time frame, which encourages us to suggest the continuation of the bullish bias on the intraday basis, waiting to test 1765.00 initially.

Therefore, we expect to witness more rise today, noting that failing to consolidate above 1746.40 will press on the price to decline and head towards 1721.65 areas mainly.

The expected trading range for today is between 1735.00 support and 1770.00 resistance.

The expected trend for today: Bullish