Gold price keeps the positive close – Analysis - 15-11-2021

Gold price ended last week above 1860.00 level, to keep the overall positive scenario active for the upcoming period despite the decline that its witnesses by today’s open, waiting to head towards 1900.00 as a main positive station.

Stochastic negativity interprets the reasons of the current decline, while the EMA50 provides good support to the suggested bullish wave, noting that the price needs to step above 1860.00 to resume the expected bullish trend for the upcoming period, as failing to consolidate above it will put the price under additional negative pressure that targets testing 1833.60 followed by 1825.15 areas before any new attempt to rise.

The expected trading range for today is between 1840.00 support and 1875.00 resistance.

The expected trend for today: Bullish