What will be the next gold trend on November 18th?1. Trend and Trend Lines
Prices are trading below a major descending trend line.
→ The overall trend remains down.
The long-term ascending trend line (red) has already broken out,
signaling weakening buying pressure and increased downward pressure.
2. Key Resistance
4.103 – 4.105:
Strong resistance zone where the Fibonacci (0.618–0.5), horizontal resistance, and EMA overlap.
→ Selling is likely to reassert itself in this price range.
3. Key Support
3.932 – 3.940:
This is the strongest support zone, overlapping the Fibonacci extension at 2.618.
This is an important low point in the bearish structure.
4. Price Scenario
If prices fail to retest the resistance at 4.103,
→ A continued decline along the downward trend is likely.
The next target is around 3.932 – 3.950.
Summary
Major Trend: Downward
Strong Resistance: 4.103 – 4.105
Target Support: 3.932 – 3.950
Structure: Trendline Break + Fibo Extension → Prefer Downward Scenario
BUY GOLD: 3932 – 3930
Stop Loss: 3922
Take Profit: 100–300–500 pips
SELL SCALP GOLD: 4064 – 4066
Stop Loss: 4073
Take Profit: 100–300–500 pips
SELL GOLD: 4103 – 4105
Stop Loss: 4115
Take Profit: 100–300–500 pips
