Technical Analysis (Gold) : XAU/USD 16 November 2021

16 November 2021 Analysis (Forex, CFDs, Cryptocurrency)CFDs (Gold & Silver)XAU/USD (Gold)

Forex Technical Analysis : XAUUSD 16 November 2021

Forex Technical Analysis : XAUUSD (Gold)

Date : 16 November 2021

Pivot point : 1855.00

Our preference : long positions above 1855.00 with targets at 1871.00 & 1880.00 in extension.

Alternative scenario : below 1855.00 look for further downside with 1850.00 & 1844.00 as targets.

Comment : even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances :

1886.00 **
1880.00 *
1871.00
1862.70 – Last price
1855.00
1850.00 *
1844.00 **

Warning : This information isn’t a buy-sell signal.

Source : Trading Central

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