XAUUSD The fall of GOLD

XAUUSD rebounded, rising back above the 20-day Simple Moving Average (SMA) at $1,975. In order for the momentum to gain further strength, XAUUSD needs to close above $1,975 on a daily basis. On the other hand, if there is consolidation and a daily close below $1,960, it would indicate a potential extension of the correction.

Looking at the 4-hour chart, technical indicators are favoring the upside ahead of the Asian session. The key resistance level to watch is at $1,981. If price moves above that level, the focus will shift to $1,987 and then $1,992.

Support levels: $1,963 $1,954 $1,944

Resistance levels: $1,981 $1,992 $2,001

Comment:

XAUUSD PLAN 11/21

🔴SELL watch Price range 2000$ - 1998$ - stoploss: 2005$

Today we will have 2 price zones to pay attention to to establish SELL signals:

BUY (Scalping) Price range 1977$ - 1979$ - stoploss: 1974$

Watch to BUY price range 1961$ - 1963$ - stoploss: 1957$

Note: Full TP, SL to be safe and win the market ‼️