Analysis of Gold for November 25,.2020 – Potential completion of the ABC upside correction and downside rotation towards
here is still quite a degree of silence surrounding the latest round of talks
Both sides aren’t giving much away and as the saying goes, silence is golden. It could very well just be some political theater before we get some imminent announcement of a makeshift agreement as alluded to earlier in the weekBut we’ll see.
Analyzing the current trading chart fo Gold, I found that there is potential completion of the upside correction ABC, which is sign that we might see furhter downside movement.
Watch for selling opportunities on the the rallies using the intraday charts. Downward targets are set at the price of $1,800 and $1,790
Stochastic oscillator is in overbought zone, which is another sign of weakness.
1-Day relative strength performance Finviz
Based on the graph above I found that on the top of the list we got VIX and Coffee today and on the bottom Lumber and Cocoa.
Gold is positive today on the list….
Support levels: 11,800 and $1,790
The material has been provided by InstaForex Company – www.instaforex.com