Gold Analysis 25/11: Gold Index Remains Supported (Chart)
- The overall of Gold Trend: Neutral with an Bullish Bias. Today's Gold Support Points: $4010 – $3960 – $3900 per ounce. Today's Gold Resistance Points: $4090 – $4130 – $4200 per ounce.
- Sell gold from the resistance level of $4170 with a target of $3980 and a stop-loss at $4200. Buy gold from the support level of $3970 with a target of $4150 and a stop-loss at $3920.
Technically, based on the performance on the daily timeframe chart, the 14-day Relative Strength Index (RSI) is around a reading of 56, confirming the bulls' readiness to launch strongly upwards. At the same time, the MACD indicator lines are in a neutral position, awaiting motivating factors to confirm the upward scenario. This could happen with the bulls' return to the vicinity of the $4220 per ounce resistance again. As previously mentioned, the $4000 per ounce level will remain the dividing line between the control of the bears and the bulls.
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