After a strong rally to 1877 at the beginning of the month, at the end of November, the precious metal Gold retreated quite strongly, closing the monthly candle with a long-haired bearish candle, almost covering up all previous upward pressure. With this closing, in my opinion, Gold has returned to its cumulative price range and has not yet had a clear new trend.
- On the daily chart time frame we can see in the last trading hours of November Gold has dropped to 1769, this is a strong support area for the precious metal Gold and I expect early in the session. trading today Gold may recover after the strong drop last night. The safe target to take profit is around 1785-1790, here we wait for the next signal.
- As I have mentioned many times before, only when Gold closes above 1800-1805 will there be a possibility of regaining momentum and below that is the 1760-1765 support area, if Gold breaks further. If we continue to continue this support price zone, we will be able to continue falling and then we will update the price channel again.
Gold signals: https://forms.gle/hpwZr5c85T55kPNG7
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