GOLD XAUUSD > Technical Analysis > 29th November
Happy Monday,
Another quick analysis for gold to start the week.
Strong short RSI divergence spotted on Friday on the 30 min timeframe. ATR providing confirmation of downtrend. Sydney time opened with a low of 1769. Whilst we are in an upward channel atm, we could expect a retest of 1770.
Wait for rejection of support of 1804.
SL - 1810
Sell @ 1802-1
TP1 - 1794
TP2 - 1788
TP3 - 1770
Banks returning from holidays and a lot of economical uncertainty. I expect results to be very choppy this week so proceed with caution.
As always good luck!
Another quick analysis for gold to start the week.
Strong short RSI divergence spotted on Friday on the 30 min timeframe. ATR providing confirmation of downtrend. Sydney time opened with a low of 1769. Whilst we are in an upward channel atm, we could expect a retest of 1770.
Wait for rejection of support of 1804.
SL - 1810
Sell @ 1802-1
TP1 - 1794
TP2 - 1788
TP3 - 1770
Banks returning from holidays and a lot of economical uncertainty. I expect results to be very choppy this week so proceed with caution.
As always good luck!
Trade closed: target reached