XAUUSD: 30/11 market analysis, long at low prices

Yesterday, the gold market opened at 2041 in early trading, and then the market rose directly, with the daily maximum hitting 2051.8. However, after touching the previous historical pressure, the market began to fall back, with the daily line falling to as low as 2035.2. Then, the market fluctuated and rose again, and the daily line finally closed at 2044.1.

From the daily chart, gold shows a spindle shape with the upper shadow line slightly longer than the lower shadow line, which means that gold may continue to adjust at a high level. The 4-hour chart shows that after the increase in volume, the market has undergone a consolidation correction on the small negative line, maintaining a consolidation transition above the middle track. Although the strong bull trend has not changed, yesterday's correction and the next day's heavy volume are common bull consolidation moves. In the hourly chart, Bollinger Road began to parallel and level off, and consolidation and correction may continue today. There is a high probability that it will hit new highs again during the U.S. trading session today or tomorrow.

Pay attention to the important support below the 2030 line. As long as this level is not broken, gold will maintain its upward trend.

Today it is recommended to set SL in the 2030-2035 area and then buy gold.

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This week is the same pattern, with the European market falling and the US market recovering in the afternoon, so today gold is expected to return to 2043~2045, and then fall or rise again

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