XAUUSD update on 13/11/2019

XAUUSD update on 13/11/2019

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Technical analysis

XAUUSD in a technical point of view is currently in an accumulating phase  after a sharp down move in its correction recently. The RSI and also Stochastic deliver us a positive divergence at H120 TF. The C leg in primary degree is also formed, so that the price action is just now expected to lead higher to break the $1,467.xx level, then from there we see a further up move momentum will be tanked to bring Gold to next higher level at around $1,49x.xx-$1,50x.xx again ( D leg in primary).


Trading strategy for XAUUSD is now looking for long with stop loss below the current lows at $1,444.20 USD/ounce. Price zones to buy at every support levels, which we see at:

  1. 1458.00
  2. 1456.00
  3. 1450.00

Take your look at the depicted chart below for more references:

 

Clear up momentum we will see but firstly above 1469.xx. From there the upward move to the Nord will be confirmed.

 






Trade well!

Tradingscenes team

Thông tin thành viên
Forex, stocks, commodities Trader & Markets Analyst. Makkaba Co., Ltd. ST&C

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