Gold price hits the target – Analysis - 27-11-2023

Gold price opened today’s trading with strong rise to touch our waited target at 2009.30 and attempts to breach it, as it closed the last four hours’ candlestick above it, which supports the chances of continuing the bullish wave on the intraday and short-term basis, noting that the next target is located at 2030.00.

The bullish channel organizes the expected bullish wave, which gets good support by the EMA50, noting that breaking 2009.30 followed by 1997.50 levels will stop the expected rise and push the price to start bearish wave on the intraday basis.

The expected trading range for today is between 1995.00 support and 2030.00 resistance.

The expected trend for today: Bullish