Midday update for Gold 16-11-2023

2023-11-16 10:33AM UTC

Gold price trades positively to breach 1962.35 level and attempts to hold above it, affected by stochastic positivity, which urges caution from the upcoming trading, as the price needs to trade below this level to keep the bearish trend scenario active, which its next main target located at 1933.30.


On the other hand, we should note that continuing the rise and breaching 1975.00 will stop the expected decline and push the price to turn to rise.



The expected trading range for today is between 1940.00 support and 1975.00 resistance.


The expected trend for today: Bearish

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