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29.11.2023 02:15 PM
Technical analysis on Gold for November 29th, 2023.
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Red lines- bullish channel

Gold price is trading around $2,040. Price made new 6 month highs yesterday around $2,051. Short-term trend remains bullish. Price continues making higher highs and higher lows inside the red upward sloping channel. Support by the lower channel boundary is at $2,012. The RSI has just entered into overbought area. A pull back towards $,2010 is possible and justified. Bulls remain in control of the trend. More upside is expected for Gold.

Alexandros Yfantis,
Analytical expert of InstaTrade
© 2007-2025

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