Analysis of Gold for November 03, 2023 – Key resistance at the price of $1.991
November 3, 2023 10:25 am
Technical analysis:
Gold has been trading upside this morning but the key resistance at the price of $1.991 is on the test. There is potential for the rejection or the upside continuation.
In case of the rejection of the resistance at $1.991, there is the chance for the downside movement towards $1.971 and $1.961
In case of the upside breakout and hold above the resistance at $1.991, there is the chance for the rally towards $2.007
RSI oscillator is showing reading near 60, which his sign that demand is in control.
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
Gold has been trading upside this morning but the key resistance at the price of $1.991 is on the test. There is potential for the rejection or the upside continuation.
In case of the rejection of the resistance at $1.991, there is the chance for the downside movement towards $1.971 and $1.961
In case of the upside breakout and hold above the resistance at $1.991, there is the chance for the rally towards $2.007
RSI oscillator is showing reading near 60, which his sign that demand is in control.
The material has been provided by InstaForex Company – www.instaforex.com
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