Gold price reaches the support line – Analysis - 24-11-2023

Gold price trades at the bullish channel’s support line that appears on the chart, and according to the trading rules inside the channels, the price is on its way to rebound bullishly and start bullish wave on the intraday basis, targeting visiting 2009.30 level initially.

Therefore, the bullish bias will be suggested for today, supported by the positivity of the technical indicators, noting that breaking 1990.00 will put the price under new negative pressure to head towards testing 1962.35 areas before any new attempt to rise.

The expected trading range for today is between 1980.00 support and 2005.00 resistance.

The expected trend for today: Bullish