GOLD → An unexpected shakeup. What's next? 2700 or 2600?

25 Nov 2024

XAUUSD closed the session perfectly on Friday, hinting that it was preparing to move up to conquer the highs. But Monday morning's news shook up the market, eliminating buyers. What happened and what to expect?



Gold's decline in the Asian session was due to news from the Middle East, with Israel tentatively approving a ceasefire agreement with Hezbollah in Lebanon.
But, on the other hand - the escalation of the conflict in Eastern Europe, where the situation has become more complicated to some critical limits over the past few weeks. This is a two-edged sword.
The market will react to any news coming from the two regions. No economic news is expected on Monday.
Technically, the focus is on the sideways range of 2731 - 2660 and internal levels, among which the price may look for support....

Resistance levels: 2673, 2689, 2731
Support levels: 2660, 2643

If the price consolidates above 2673, then we should wait for a retest of 2689 (0.5 fibo). If the bulls continue to press the market, the gold may test 2721.
But if the bears hold 0.5-0.7 fibo and retest 2660, then we should wait for a correction to the zones of interest and liquidity before a possible pullback

Rate, share your opinion and questions, let's discuss what's going on with ★ XAUUSD ;)

Regards R. Linda!

25 Nov 2024

Nota

The situation is complicated by the fact that two opposing situations are at play on gold.
In the Middle East - de-escalation of the situation
In Eastern Europe - escalation of the situation.
All the news that can come from the regions is unpredictable news that can change the nature of the market in a moment ...
be careful!

25 Nov 2024

Dagangan aktif

Great move down to the zones of interest. The probability of a pullback to 2660, 2690 is increasing