Gold november 14th price action analysis
In trading on Tuesday, we saw limited fluctuations in the price of ounces of gold in the world. This is while the US dollar index dropped yesterday. The September reopening was at $ 1,200, however, we saw a fake failure. While the ounces of gold show a weekly downtrend to support $ 1,183.7, the daily ounces of gold have been hit by a daily channel channel of 1160.3. Also on the chart of a quarter-ounce gold ounce, the RSI indicator has dropped out of saturation.
If the daily ounces of gold buyers respond to the channel’s support, the 1236-dollar resistance of $ 9 will be the next target of the market. The channel’s resistance stood at $ 12,124, after the $ 12,36 resistance. Today, an ounce of gold purchase could be thought of as the September reopening of $ 1,200. The only problem for buyers of ounces of gold is the $ 1209 resistance, with a weekly resistance of $ 1,214.4 a bit.
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Price action strategy
It is recommended that you first wait for a market reversal to $1,200, and complete the four-hour ascendant bid to buy gold ounces.