SlideShare a Scribd company logo
Gold (XAUUSD) Price May Bounce
Off $1,873 Resistance Level
Points To Be Discussed Today:
• Bears May Take Over Gold Market Soon
• XAUUSD Long-Term Trend: Bullish
• XAUUSD Medium-Term Trend: Bullish
• XAU/USD Recaptures $1,860 Amid
Cautious Optimism
• Gold Spot / U.S. Dollar
Bears May Take Over Gold Market
Soon
Gold Weekly Price Analysis –
November 20
• Gold price may reverse to downtrend
movement provided the support level of
$1,831 is broken downside, price may decline
to $1,796 and $1,750 levels.
• In case the bulls defend the support level of
$1,831, the price may break up $1,873 level
and increase to $1,908 and $1,959 levels.
XAUUSD Market
Key levels:
• Resistance levels: $1,873, $1,908, $1,959
• Support levels: $1,831, $1,796, $1,750
XAUUSD Long-Term Trend: Bullish
• Gold is bullish on the long-term outlook. The
bullish momentum commenced on November 04
with the formation of bullish engulfing candle
pattern.
• The price soars towards north side. The former
resistance levels of $1,796 and $1,831 turns to
support level.
• The price reached the high of $1,873 on
November 10.
• Since then, the price has been trading within
$1,873 and $1,831 levels.
XAUUSD Long-Term Trend: Bullish - I
XAUUSD Long-Term Trend: Bullish - II
• Gold is trading between the two EMAs which
indicate that the bulls’ momentum is decreasing
before the closing of Gold weekly market.
• The 9 periods EMA remains above the 21 periods
EMA. Gold price may reverse to downtrend
movement provided the support level of $1,831
is broken downside, price may decline to $1,796
and $1,750 levels.
• In case the bulls defend the support level of
$1,831, the price may break up $1,873 level and
increase to $1,908 and $1,959 levels.
XAUUSD Medium-Term Trend:
Bearish
• Gold is on the bearish movement on the 4-hour
chart. The bulls pushed the white metal to test
the resistance level of $1,873 on November 16.
• A chart pattern like Head and Shoulder appear at
the just mentioned resistance level.
• The resistance level holds and the price is
reversing.
• The price is declining towards the support level
of $1,831.
XAUUSD Medium-Term Trend:
Bearish - I
XAUUSD Medium-Term Trend:
Bearish - II
• The price is trading below the 9 periods EMA
and 21 periods EMA as an indication of
bearish market.
• The Relative Strength Index period 14 is below
40 levels with the signal line pointing down to
indicate sell signal.
XAU/USD Recaptures $1,860 Amid
Cautious Optimism
• Gold bulls are showing up in Asia as
trading starts to pick up.
• US dollar is also making tracks across the forex
board as traders await keynote speeches from
central bankers.
• Gold price is looking to reverse Thursday’s
drop, as it flirts with daily highs above $1,860,
shrugging off the advance in the US dollar and
the Treasury yields.
XAU/USD Recaptures $1,860 Amid
Cautious Optimism - I
• The market mood remains cautious amid China’s
indebted property sector woes and looming risks
of faster monetary policy tightening to combat
inflation.
• Investors rush to hold the traditional safe-haven
gold ahead of US President Joe Biden’s
announcement of the new Fed Chair, with Lael
Brainard running for the top job alongside the
incumbent Jerome Powell.
• Meanwhile, a slew of Fedspeak will keep the
traders entertained as the week draws to an end.
XAU/USD Recaptures $1,860 Amid
Cautious Optimism - II
• The US dollar is also pushing higher after it
took a breather overnight and drifted back
from the 16-month highs scored earlier in the
week.
• The dollar index DXY which measures the
currency against a basket of six rivals reached
its highest since mid-July 2020 on Wednesday
at 96.226, but was last trading back at 95.600.
XAU/USD Recaptures $1,860 Amid
Cautious Optimism - III
• Markets are now in a state of apprehension
over risks of stagflation which makes gold the
perfect hedge but also underpins the
prospects of a stronger dollar.
• The move in the greenback has been so far
fueled by diverging central bank tightening
expectations amid surging inflation around
the globe.
XAU/USD Recaptures $1,860 Amid
Cautious Optimism - IV
• This week's US Retail Sales beat expectations
on the heels of last week's inflation surprise
which led to the surge.
• Additionally, in Europe, meanwhile, COVID-19
is surging again, car sales slipped for a fourth
consecutive month and central bankers are
vowing to hold rates low.
Focus On Central Banks
• Meanwhile, the focus will be on central bank
speakers, with European Central Bank
President Christine Lagarde at 0830
GMT, Bank of England economist Huw Pill at
1200 GMT and Federal Reserve officials
Christopher Waller and Richard Clarida at
1545 GMT and 1715 GMT.
Focus On Central Banks - I
• Next week we will see just how hawkish the
Reserve Bank of New Zealand is when they
decide on their OCR.
• However, local markets could be setting
themselves up for some real disappointment if
we “only” get a 25bps hike.
• This could lead to yet another surge in the
greenback and ultimately weigh on gold
prices.
Gold Spot / U.S. Dollar
Thanks for listening
Gold (XAUUSD) Price May Bounce
Off $1,873 Resistance Level
Gold (XAUUSD) Price May Bounce
Off $1,873 Resistance Level

More Related Content

What's hot

October 5 l Session 1 l GBIH
October 5 l Session 1 l GBIHOctober 5 l Session 1 l GBIH
October 5 l Session 1 l GBIH
GBIHSupport
 
October 29 l Session 2 l GBIH
October 29 l Session 2 l GBIHOctober 29 l Session 2 l GBIH
October 29 l Session 2 l GBIH
GBIHSupport
 
Sep 22 | Session 2 | GBIH
Sep 22 | Session 2  | GBIHSep 22 | Session 2  | GBIH
Sep 22 | Session 2 | GBIH
GBIHSupport
 
November 5 I Session 2 I GBIH
November 5 I Session 2 I GBIHNovember 5 I Session 2 I GBIH
November 5 I Session 2 I GBIH
GBIHSupport
 
November 30 l Session 1 l GBIH
November 30 l Session 1 l GBIHNovember 30 l Session 1 l GBIH
November 30 l Session 1 l GBIH
GBIHSupport
 
October 6 l Session 2 l GBIH
October 6 l Session 2 l GBIHOctober 6 l Session 2 l GBIH
October 6 l Session 2 l GBIH
GBIHSupport
 
December 1 l Session 2 l GBIH
December 1 l Session 2 l GBIHDecember 1 l Session 2 l GBIH
December 1 l Session 2 l GBIH
GBIHSupport
 
December 1 k Session 1 l GBIH
December 1 k Session 1 l GBIHDecember 1 k Session 1 l GBIH
December 1 k Session 1 l GBIH
GBIHSupport
 
September 21 I Session 2 I GBIH
September 21 I Session 2 I GBIHSeptember 21 I Session 2 I GBIH
September 21 I Session 2 I GBIH
GBIHSupport
 
October 19 l Session 2 l GBIH
October 19 l Session 2 l GBIHOctober 19 l Session 2 l GBIH
October 19 l Session 2 l GBIH
GBIHSupport
 
November 2 l Session 1 l GBIH
November 2 l Session 1 l GBIHNovember 2 l Session 1 l GBIH
November 2 l Session 1 l GBIH
GBIHSupport
 
October 5 l Session 2 l GBIH
October 5 l Session 2 l GBIHOctober 5 l Session 2 l GBIH
October 5 l Session 2 l GBIH
GBIHSupport
 
November 15 l Session 1 l GBIH
November 15 l Session 1 l GBIHNovember 15 l Session 1 l GBIH
November 15 l Session 1 l GBIH
GBIHSupport
 
October 20 l Session 1 l GBIH
October 20 l Session 1 l GBIHOctober 20 l Session 1 l GBIH
October 20 l Session 1 l GBIH
GBIHSupport
 
November 15 l Session 2 l GBIH
November 15 l Session 2 l GBIHNovember 15 l Session 2 l GBIH
November 15 l Session 2 l GBIH
GBIHSupport
 
November 16 l Session 1 l GBIH
November 16 l Session 1 l GBIHNovember 16 l Session 1 l GBIH
November 16 l Session 1 l GBIH
GBIHSupport
 
October 11 l Session 1 l GBIH
October 11 l Session 1 l GBIHOctober 11 l Session 1 l GBIH
October 11 l Session 1 l GBIH
GBIHSupport
 
September 20 I Session 2 I GBIH
September 20 I Session 2 I GBIHSeptember 20 I Session 2 I GBIH
September 20 I Session 2 I GBIH
GBIHSupport
 
September 19 I Session 1 I GBIH
September 19 I Session 1 I GBIHSeptember 19 I Session 1 I GBIH
September 19 I Session 1 I GBIH
GBIHSupport
 
October 25 l Session 2 l GBIH
October 25 l Session 2 l GBIHOctober 25 l Session 2 l GBIH
October 25 l Session 2 l GBIH
GBIHSupport
 

What's hot (20)

October 5 l Session 1 l GBIH
October 5 l Session 1 l GBIHOctober 5 l Session 1 l GBIH
October 5 l Session 1 l GBIH
 
October 29 l Session 2 l GBIH
October 29 l Session 2 l GBIHOctober 29 l Session 2 l GBIH
October 29 l Session 2 l GBIH
 
Sep 22 | Session 2 | GBIH
Sep 22 | Session 2  | GBIHSep 22 | Session 2  | GBIH
Sep 22 | Session 2 | GBIH
 
November 5 I Session 2 I GBIH
November 5 I Session 2 I GBIHNovember 5 I Session 2 I GBIH
November 5 I Session 2 I GBIH
 
November 30 l Session 1 l GBIH
November 30 l Session 1 l GBIHNovember 30 l Session 1 l GBIH
November 30 l Session 1 l GBIH
 
October 6 l Session 2 l GBIH
October 6 l Session 2 l GBIHOctober 6 l Session 2 l GBIH
October 6 l Session 2 l GBIH
 
December 1 l Session 2 l GBIH
December 1 l Session 2 l GBIHDecember 1 l Session 2 l GBIH
December 1 l Session 2 l GBIH
 
December 1 k Session 1 l GBIH
December 1 k Session 1 l GBIHDecember 1 k Session 1 l GBIH
December 1 k Session 1 l GBIH
 
September 21 I Session 2 I GBIH
September 21 I Session 2 I GBIHSeptember 21 I Session 2 I GBIH
September 21 I Session 2 I GBIH
 
October 19 l Session 2 l GBIH
October 19 l Session 2 l GBIHOctober 19 l Session 2 l GBIH
October 19 l Session 2 l GBIH
 
November 2 l Session 1 l GBIH
November 2 l Session 1 l GBIHNovember 2 l Session 1 l GBIH
November 2 l Session 1 l GBIH
 
October 5 l Session 2 l GBIH
October 5 l Session 2 l GBIHOctober 5 l Session 2 l GBIH
October 5 l Session 2 l GBIH
 
November 15 l Session 1 l GBIH
November 15 l Session 1 l GBIHNovember 15 l Session 1 l GBIH
November 15 l Session 1 l GBIH
 
October 20 l Session 1 l GBIH
October 20 l Session 1 l GBIHOctober 20 l Session 1 l GBIH
October 20 l Session 1 l GBIH
 
November 15 l Session 2 l GBIH
November 15 l Session 2 l GBIHNovember 15 l Session 2 l GBIH
November 15 l Session 2 l GBIH
 
November 16 l Session 1 l GBIH
November 16 l Session 1 l GBIHNovember 16 l Session 1 l GBIH
November 16 l Session 1 l GBIH
 
October 11 l Session 1 l GBIH
October 11 l Session 1 l GBIHOctober 11 l Session 1 l GBIH
October 11 l Session 1 l GBIH
 
September 20 I Session 2 I GBIH
September 20 I Session 2 I GBIHSeptember 20 I Session 2 I GBIH
September 20 I Session 2 I GBIH
 
September 19 I Session 1 I GBIH
September 19 I Session 1 I GBIHSeptember 19 I Session 1 I GBIH
September 19 I Session 1 I GBIH
 
October 25 l Session 2 l GBIH
October 25 l Session 2 l GBIHOctober 25 l Session 2 l GBIH
October 25 l Session 2 l GBIH
 

Similar to November 22 l Session 1 l GBIH

October 26 l Session 1 l GBIH
October 26 l Session 1 l GBIHOctober 26 l Session 1 l GBIH
October 26 l Session 1 l GBIH
GBIHSupport
 
September 14 I Session 2 I GBIH
September 14 I Session 2 I GBIHSeptember 14 I Session 2 I GBIH
September 14 I Session 2 I GBIH
GBIHSupport
 
August 17 I Session 1 I GBIH
August 17 I Session 1 I GBIHAugust 17 I Session 1 I GBIH
August 17 I Session 1 I GBIH
GBIHSupport
 
October 15 l Session 1 l GBIH
October 15 l Session 1 l GBIHOctober 15 l Session 1 l GBIH
October 15 l Session 1 l GBIH
GBIHSupport
 
November 16 l Session 2 l GBIH
November 16 l Session 2 l GBIHNovember 16 l Session 2 l GBIH
November 16 l Session 2 l GBIH
GBIHSupport
 
November 23 l Session 2 l GBIH
November 23 l Session 2 l GBIHNovember 23 l Session 2 l GBIH
November 23 l Session 2 l GBIH
GBIHSupport
 
August 18 I Session 1 I GBIH
August 18 I Session 1 I GBIHAugust 18 I Session 1 I GBIH
August 18 I Session 1 I GBIH
GBIHSupport
 
July 13 I Session 1 I GBIH
July 13 I Session 1 I GBIHJuly 13 I Session 1 I GBIH
July 13 I Session 1 I GBIH
GBIHSupport
 
September 9 I Session 1 I GBIH
September 9 I Session 1 I GBIHSeptember 9 I Session 1 I GBIH
September 9 I Session 1 I GBIH
GBIHSupport
 
July 16 I Session 1 I GBIH
July 16 I Session 1 I GBIHJuly 16 I Session 1 I GBIH
July 16 I Session 1 I GBIH
GBIHSupport
 
July 28 I Session 1 I GBIH
July 28 I Session 1 I GBIHJuly 28 I Session 1 I GBIH
July 28 I Session 1 I GBIH
GBIHSupport
 
September 5 I Session 1 I GBIH
September 5 I Session 1 I GBIHSeptember 5 I Session 1 I GBIH
September 5 I Session 1 I GBIH
GBIHSupport
 
October 13 l Session 2 l GBIH
October 13 l Session 2 l GBIHOctober 13 l Session 2 l GBIH
October 13 l Session 2 l GBIH
GBIHSupport
 
October 15 l Session 2 l GBIH
October 15 l Session 2 l GBIHOctober 15 l Session 2 l GBIH
October 15 l Session 2 l GBIH
GBIHSupport
 
August 25 I Session 2 I GBIH
August 25 I Session 2 I GBIHAugust 25 I Session 2 I GBIH
August 25 I Session 2 I GBIH
GBIHSupport
 
August 26 I Session 1 I GBIH
August 26 I Session 1 I GBIHAugust 26 I Session 1 I GBIH
August 26 I Session 1 I GBIH
GBIHSupport
 
July 19 I Session 2 I GBIH
July 19 I Session 2 I GBIHJuly 19 I Session 2 I GBIH
July 19 I Session 2 I GBIH
GBIHSupport
 
July 21 I Session 1 I GBIH
July 21 I Session 1 I GBIHJuly 21 I Session 1 I GBIH
July 21 I Session 1 I GBIH
GBIHSupport
 
November 1 l Session 2 l GBIH
November 1 l Session 2 l GBIHNovember 1 l Session 2 l GBIH
November 1 l Session 2 l GBIH
GBIHSupport
 
August 25 I Session 1 I GBIH
August 25 I Session 1 I GBIHAugust 25 I Session 1 I GBIH
August 25 I Session 1 I GBIH
GBIHSupport
 

Similar to November 22 l Session 1 l GBIH (20)

October 26 l Session 1 l GBIH
October 26 l Session 1 l GBIHOctober 26 l Session 1 l GBIH
October 26 l Session 1 l GBIH
 
September 14 I Session 2 I GBIH
September 14 I Session 2 I GBIHSeptember 14 I Session 2 I GBIH
September 14 I Session 2 I GBIH
 
August 17 I Session 1 I GBIH
August 17 I Session 1 I GBIHAugust 17 I Session 1 I GBIH
August 17 I Session 1 I GBIH
 
October 15 l Session 1 l GBIH
October 15 l Session 1 l GBIHOctober 15 l Session 1 l GBIH
October 15 l Session 1 l GBIH
 
November 16 l Session 2 l GBIH
November 16 l Session 2 l GBIHNovember 16 l Session 2 l GBIH
November 16 l Session 2 l GBIH
 
November 23 l Session 2 l GBIH
November 23 l Session 2 l GBIHNovember 23 l Session 2 l GBIH
November 23 l Session 2 l GBIH
 
August 18 I Session 1 I GBIH
August 18 I Session 1 I GBIHAugust 18 I Session 1 I GBIH
August 18 I Session 1 I GBIH
 
July 13 I Session 1 I GBIH
July 13 I Session 1 I GBIHJuly 13 I Session 1 I GBIH
July 13 I Session 1 I GBIH
 
September 9 I Session 1 I GBIH
September 9 I Session 1 I GBIHSeptember 9 I Session 1 I GBIH
September 9 I Session 1 I GBIH
 
July 16 I Session 1 I GBIH
July 16 I Session 1 I GBIHJuly 16 I Session 1 I GBIH
July 16 I Session 1 I GBIH
 
July 28 I Session 1 I GBIH
July 28 I Session 1 I GBIHJuly 28 I Session 1 I GBIH
July 28 I Session 1 I GBIH
 
September 5 I Session 1 I GBIH
September 5 I Session 1 I GBIHSeptember 5 I Session 1 I GBIH
September 5 I Session 1 I GBIH
 
October 13 l Session 2 l GBIH
October 13 l Session 2 l GBIHOctober 13 l Session 2 l GBIH
October 13 l Session 2 l GBIH
 
October 15 l Session 2 l GBIH
October 15 l Session 2 l GBIHOctober 15 l Session 2 l GBIH
October 15 l Session 2 l GBIH
 
August 25 I Session 2 I GBIH
August 25 I Session 2 I GBIHAugust 25 I Session 2 I GBIH
August 25 I Session 2 I GBIH
 
August 26 I Session 1 I GBIH
August 26 I Session 1 I GBIHAugust 26 I Session 1 I GBIH
August 26 I Session 1 I GBIH
 
July 19 I Session 2 I GBIH
July 19 I Session 2 I GBIHJuly 19 I Session 2 I GBIH
July 19 I Session 2 I GBIH
 
July 21 I Session 1 I GBIH
July 21 I Session 1 I GBIHJuly 21 I Session 1 I GBIH
July 21 I Session 1 I GBIH
 
November 1 l Session 2 l GBIH
November 1 l Session 2 l GBIHNovember 1 l Session 2 l GBIH
November 1 l Session 2 l GBIH
 
August 25 I Session 1 I GBIH
August 25 I Session 1 I GBIHAugust 25 I Session 1 I GBIH
August 25 I Session 1 I GBIH
 

More from GBIHSupport

November 30 l Session 2 l GBIH
November 30 l Session 2 l GBIHNovember 30 l Session 2 l GBIH
November 30 l Session 2 l GBIH
GBIHSupport
 
November 29 l Session 1 l GBIH
November 29 l Session 1 l GBIHNovember 29 l Session 1 l GBIH
November 29 l Session 1 l GBIH
GBIHSupport
 
November 29 l Session 2 l GBIH
November 29 l Session 2 l GBIHNovember 29 l Session 2 l GBIH
November 29 l Session 2 l GBIH
GBIHSupport
 
November 28 l Session 1 l GBIH
November 28 l Session 1 l GBIHNovember 28 l Session 1 l GBIH
November 28 l Session 1 l GBIH
GBIHSupport
 
November 26 l Session 2 l GBIH
November 26 l Session 2 l GBIHNovember 26 l Session 2 l GBIH
November 26 l Session 2 l GBIH
GBIHSupport
 
November 26 l Session 1 l GBIH
November 26 l Session 1 l GBIHNovember 26 l Session 1 l GBIH
November 26 l Session 1 l GBIH
GBIHSupport
 
November 25 l Session 2 l GBIH
November 25 l Session 2 l GBIHNovember 25 l Session 2 l GBIH
November 25 l Session 2 l GBIH
GBIHSupport
 
November 24 l Session 2 l GBIH
November 24 l Session 2 l GBIHNovember 24 l Session 2 l GBIH
November 24 l Session 2 l GBIH
GBIHSupport
 
November 23 l Session 1 l GBIH
November 23 l Session 1 l GBIHNovember 23 l Session 1 l GBIH
November 23 l Session 1 l GBIH
GBIHSupport
 
November 21 l Session 1 l GBIH
November 21 l Session 1 l GBIHNovember 21 l Session 1 l GBIH
November 21 l Session 1 l GBIH
GBIHSupport
 
November 19 l Session 2 l GBIH
November 19 l Session 2 l GBIHNovember 19 l Session 2 l GBIH
November 19 l Session 2 l GBIH
GBIHSupport
 
November 19 l Session 1 l GBIH
November 19 l Session 1 l GBIHNovember 19 l Session 1 l GBIH
November 19 l Session 1 l GBIH
GBIHSupport
 
November 14 l Session 1 l GBIH
November 14 l Session 1 l GBIHNovember 14 l Session 1 l GBIH
November 14 l Session 1 l GBIH
GBIHSupport
 
November 12 l Session 2 l GBIH
November 12 l Session 2 l GBIHNovember 12 l Session 2 l GBIH
November 12 l Session 2 l GBIH
GBIHSupport
 
November 12 l Session 1 l GBIH
November 12 l Session 1 l GBIHNovember 12 l Session 1 l GBIH
November 12 l Session 1 l GBIH
GBIHSupport
 

More from GBIHSupport (15)

November 30 l Session 2 l GBIH
November 30 l Session 2 l GBIHNovember 30 l Session 2 l GBIH
November 30 l Session 2 l GBIH
 
November 29 l Session 1 l GBIH
November 29 l Session 1 l GBIHNovember 29 l Session 1 l GBIH
November 29 l Session 1 l GBIH
 
November 29 l Session 2 l GBIH
November 29 l Session 2 l GBIHNovember 29 l Session 2 l GBIH
November 29 l Session 2 l GBIH
 
November 28 l Session 1 l GBIH
November 28 l Session 1 l GBIHNovember 28 l Session 1 l GBIH
November 28 l Session 1 l GBIH
 
November 26 l Session 2 l GBIH
November 26 l Session 2 l GBIHNovember 26 l Session 2 l GBIH
November 26 l Session 2 l GBIH
 
November 26 l Session 1 l GBIH
November 26 l Session 1 l GBIHNovember 26 l Session 1 l GBIH
November 26 l Session 1 l GBIH
 
November 25 l Session 2 l GBIH
November 25 l Session 2 l GBIHNovember 25 l Session 2 l GBIH
November 25 l Session 2 l GBIH
 
November 24 l Session 2 l GBIH
November 24 l Session 2 l GBIHNovember 24 l Session 2 l GBIH
November 24 l Session 2 l GBIH
 
November 23 l Session 1 l GBIH
November 23 l Session 1 l GBIHNovember 23 l Session 1 l GBIH
November 23 l Session 1 l GBIH
 
November 21 l Session 1 l GBIH
November 21 l Session 1 l GBIHNovember 21 l Session 1 l GBIH
November 21 l Session 1 l GBIH
 
November 19 l Session 2 l GBIH
November 19 l Session 2 l GBIHNovember 19 l Session 2 l GBIH
November 19 l Session 2 l GBIH
 
November 19 l Session 1 l GBIH
November 19 l Session 1 l GBIHNovember 19 l Session 1 l GBIH
November 19 l Session 1 l GBIH
 
November 14 l Session 1 l GBIH
November 14 l Session 1 l GBIHNovember 14 l Session 1 l GBIH
November 14 l Session 1 l GBIH
 
November 12 l Session 2 l GBIH
November 12 l Session 2 l GBIHNovember 12 l Session 2 l GBIH
November 12 l Session 2 l GBIH
 
November 12 l Session 1 l GBIH
November 12 l Session 1 l GBIHNovember 12 l Session 1 l GBIH
November 12 l Session 1 l GBIH
 

Recently uploaded

how can i use my minded pi coins I need some funds.
how can i use my minded pi coins I need some funds.how can i use my minded pi coins I need some funds.
how can i use my minded pi coins I need some funds.
DOT TECH
 
how to swap pi coins to foreign currency withdrawable.
how to swap pi coins to foreign currency withdrawable.how to swap pi coins to foreign currency withdrawable.
how to swap pi coins to foreign currency withdrawable.
DOT TECH
 
Introduction to Indian Financial System ()
Introduction to Indian Financial System ()Introduction to Indian Financial System ()
Introduction to Indian Financial System ()
Avanish Goel
 
Isios-2024-Professional-Independent-Trustee-Survey.pdf
Isios-2024-Professional-Independent-Trustee-Survey.pdfIsios-2024-Professional-Independent-Trustee-Survey.pdf
Isios-2024-Professional-Independent-Trustee-Survey.pdf
Henry Tapper
 
Summary of financial results for 1Q2024
Summary of financial  results for 1Q2024Summary of financial  results for 1Q2024
Summary of financial results for 1Q2024
InterCars
 
What website can I sell pi coins securely.
What website can I sell pi coins securely.What website can I sell pi coins securely.
What website can I sell pi coins securely.
DOT TECH
 
一比一原版Birmingham毕业证伯明翰大学|学院毕业证成绩单如何办理
一比一原版Birmingham毕业证伯明翰大学|学院毕业证成绩单如何办理一比一原版Birmingham毕业证伯明翰大学|学院毕业证成绩单如何办理
一比一原版Birmingham毕业证伯明翰大学|学院毕业证成绩单如何办理
betoozp
 
how to sell pi coins in all Africa Countries.
how to sell pi coins in all Africa Countries.how to sell pi coins in all Africa Countries.
how to sell pi coins in all Africa Countries.
DOT TECH
 
Commercial Bank Economic Capsule - May 2024
Commercial Bank Economic Capsule - May 2024Commercial Bank Economic Capsule - May 2024
Commercial Bank Economic Capsule - May 2024
Commercial Bank of Ceylon PLC
 
how can I sell/buy bulk pi coins securely
how can I sell/buy bulk pi coins securelyhow can I sell/buy bulk pi coins securely
how can I sell/buy bulk pi coins securely
DOT TECH
 
what is a pi whale and how to access one.
what is a pi whale and how to access one.what is a pi whale and how to access one.
what is a pi whale and how to access one.
DOT TECH
 
The European Unemployment Puzzle: implications from population aging
The European Unemployment Puzzle: implications from population agingThe European Unemployment Puzzle: implications from population aging
The European Unemployment Puzzle: implications from population aging
GRAPE
 
Monthly Economic Monitoring of Ukraine No. 232, May 2024
Monthly Economic Monitoring of Ukraine No. 232, May 2024Monthly Economic Monitoring of Ukraine No. 232, May 2024
Economics and Economic reasoning Chap. 1
Economics and Economic reasoning Chap. 1Economics and Economic reasoning Chap. 1
Economics and Economic reasoning Chap. 1
Fitri Safira
 
The secret way to sell pi coins effortlessly.
The secret way to sell pi coins effortlessly.The secret way to sell pi coins effortlessly.
The secret way to sell pi coins effortlessly.
DOT TECH
 
how to sell pi coins at high rate quickly.
how to sell pi coins at high rate quickly.how to sell pi coins at high rate quickly.
how to sell pi coins at high rate quickly.
DOT TECH
 
NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...
NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...
NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...
Amil Baba Dawood bangali
 
how to sell pi coins in South Korea profitably.
how to sell pi coins in South Korea profitably.how to sell pi coins in South Korea profitably.
how to sell pi coins in South Korea profitably.
DOT TECH
 
What price will pi network be listed on exchanges
What price will pi network be listed on exchangesWhat price will pi network be listed on exchanges
What price will pi network be listed on exchanges
DOT TECH
 
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...
Vighnesh Shashtri
 

Recently uploaded (20)

how can i use my minded pi coins I need some funds.
how can i use my minded pi coins I need some funds.how can i use my minded pi coins I need some funds.
how can i use my minded pi coins I need some funds.
 
how to swap pi coins to foreign currency withdrawable.
how to swap pi coins to foreign currency withdrawable.how to swap pi coins to foreign currency withdrawable.
how to swap pi coins to foreign currency withdrawable.
 
Introduction to Indian Financial System ()
Introduction to Indian Financial System ()Introduction to Indian Financial System ()
Introduction to Indian Financial System ()
 
Isios-2024-Professional-Independent-Trustee-Survey.pdf
Isios-2024-Professional-Independent-Trustee-Survey.pdfIsios-2024-Professional-Independent-Trustee-Survey.pdf
Isios-2024-Professional-Independent-Trustee-Survey.pdf
 
Summary of financial results for 1Q2024
Summary of financial  results for 1Q2024Summary of financial  results for 1Q2024
Summary of financial results for 1Q2024
 
What website can I sell pi coins securely.
What website can I sell pi coins securely.What website can I sell pi coins securely.
What website can I sell pi coins securely.
 
一比一原版Birmingham毕业证伯明翰大学|学院毕业证成绩单如何办理
一比一原版Birmingham毕业证伯明翰大学|学院毕业证成绩单如何办理一比一原版Birmingham毕业证伯明翰大学|学院毕业证成绩单如何办理
一比一原版Birmingham毕业证伯明翰大学|学院毕业证成绩单如何办理
 
how to sell pi coins in all Africa Countries.
how to sell pi coins in all Africa Countries.how to sell pi coins in all Africa Countries.
how to sell pi coins in all Africa Countries.
 
Commercial Bank Economic Capsule - May 2024
Commercial Bank Economic Capsule - May 2024Commercial Bank Economic Capsule - May 2024
Commercial Bank Economic Capsule - May 2024
 
how can I sell/buy bulk pi coins securely
how can I sell/buy bulk pi coins securelyhow can I sell/buy bulk pi coins securely
how can I sell/buy bulk pi coins securely
 
what is a pi whale and how to access one.
what is a pi whale and how to access one.what is a pi whale and how to access one.
what is a pi whale and how to access one.
 
The European Unemployment Puzzle: implications from population aging
The European Unemployment Puzzle: implications from population agingThe European Unemployment Puzzle: implications from population aging
The European Unemployment Puzzle: implications from population aging
 
Monthly Economic Monitoring of Ukraine No. 232, May 2024
Monthly Economic Monitoring of Ukraine No. 232, May 2024Monthly Economic Monitoring of Ukraine No. 232, May 2024
Monthly Economic Monitoring of Ukraine No. 232, May 2024
 
Economics and Economic reasoning Chap. 1
Economics and Economic reasoning Chap. 1Economics and Economic reasoning Chap. 1
Economics and Economic reasoning Chap. 1
 
The secret way to sell pi coins effortlessly.
The secret way to sell pi coins effortlessly.The secret way to sell pi coins effortlessly.
The secret way to sell pi coins effortlessly.
 
how to sell pi coins at high rate quickly.
how to sell pi coins at high rate quickly.how to sell pi coins at high rate quickly.
how to sell pi coins at high rate quickly.
 
NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...
NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...
NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...
 
how to sell pi coins in South Korea profitably.
how to sell pi coins in South Korea profitably.how to sell pi coins in South Korea profitably.
how to sell pi coins in South Korea profitably.
 
What price will pi network be listed on exchanges
What price will pi network be listed on exchangesWhat price will pi network be listed on exchanges
What price will pi network be listed on exchanges
 
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...
 

November 22 l Session 1 l GBIH

  • 1. Gold (XAUUSD) Price May Bounce Off $1,873 Resistance Level
  • 2. Points To Be Discussed Today: • Bears May Take Over Gold Market Soon • XAUUSD Long-Term Trend: Bullish • XAUUSD Medium-Term Trend: Bullish • XAU/USD Recaptures $1,860 Amid Cautious Optimism • Gold Spot / U.S. Dollar
  • 3. Bears May Take Over Gold Market Soon
  • 4. Gold Weekly Price Analysis – November 20 • Gold price may reverse to downtrend movement provided the support level of $1,831 is broken downside, price may decline to $1,796 and $1,750 levels. • In case the bulls defend the support level of $1,831, the price may break up $1,873 level and increase to $1,908 and $1,959 levels.
  • 5. XAUUSD Market Key levels: • Resistance levels: $1,873, $1,908, $1,959 • Support levels: $1,831, $1,796, $1,750
  • 6. XAUUSD Long-Term Trend: Bullish • Gold is bullish on the long-term outlook. The bullish momentum commenced on November 04 with the formation of bullish engulfing candle pattern. • The price soars towards north side. The former resistance levels of $1,796 and $1,831 turns to support level. • The price reached the high of $1,873 on November 10. • Since then, the price has been trading within $1,873 and $1,831 levels.
  • 8. XAUUSD Long-Term Trend: Bullish - II • Gold is trading between the two EMAs which indicate that the bulls’ momentum is decreasing before the closing of Gold weekly market. • The 9 periods EMA remains above the 21 periods EMA. Gold price may reverse to downtrend movement provided the support level of $1,831 is broken downside, price may decline to $1,796 and $1,750 levels. • In case the bulls defend the support level of $1,831, the price may break up $1,873 level and increase to $1,908 and $1,959 levels.
  • 9. XAUUSD Medium-Term Trend: Bearish • Gold is on the bearish movement on the 4-hour chart. The bulls pushed the white metal to test the resistance level of $1,873 on November 16. • A chart pattern like Head and Shoulder appear at the just mentioned resistance level. • The resistance level holds and the price is reversing. • The price is declining towards the support level of $1,831.
  • 11. XAUUSD Medium-Term Trend: Bearish - II • The price is trading below the 9 periods EMA and 21 periods EMA as an indication of bearish market. • The Relative Strength Index period 14 is below 40 levels with the signal line pointing down to indicate sell signal.
  • 12. XAU/USD Recaptures $1,860 Amid Cautious Optimism • Gold bulls are showing up in Asia as trading starts to pick up. • US dollar is also making tracks across the forex board as traders await keynote speeches from central bankers. • Gold price is looking to reverse Thursday’s drop, as it flirts with daily highs above $1,860, shrugging off the advance in the US dollar and the Treasury yields.
  • 13. XAU/USD Recaptures $1,860 Amid Cautious Optimism - I • The market mood remains cautious amid China’s indebted property sector woes and looming risks of faster monetary policy tightening to combat inflation. • Investors rush to hold the traditional safe-haven gold ahead of US President Joe Biden’s announcement of the new Fed Chair, with Lael Brainard running for the top job alongside the incumbent Jerome Powell. • Meanwhile, a slew of Fedspeak will keep the traders entertained as the week draws to an end.
  • 14. XAU/USD Recaptures $1,860 Amid Cautious Optimism - II • The US dollar is also pushing higher after it took a breather overnight and drifted back from the 16-month highs scored earlier in the week. • The dollar index DXY which measures the currency against a basket of six rivals reached its highest since mid-July 2020 on Wednesday at 96.226, but was last trading back at 95.600.
  • 15. XAU/USD Recaptures $1,860 Amid Cautious Optimism - III • Markets are now in a state of apprehension over risks of stagflation which makes gold the perfect hedge but also underpins the prospects of a stronger dollar. • The move in the greenback has been so far fueled by diverging central bank tightening expectations amid surging inflation around the globe.
  • 16. XAU/USD Recaptures $1,860 Amid Cautious Optimism - IV • This week's US Retail Sales beat expectations on the heels of last week's inflation surprise which led to the surge. • Additionally, in Europe, meanwhile, COVID-19 is surging again, car sales slipped for a fourth consecutive month and central bankers are vowing to hold rates low.
  • 17. Focus On Central Banks • Meanwhile, the focus will be on central bank speakers, with European Central Bank President Christine Lagarde at 0830 GMT, Bank of England economist Huw Pill at 1200 GMT and Federal Reserve officials Christopher Waller and Richard Clarida at 1545 GMT and 1715 GMT.
  • 18. Focus On Central Banks - I • Next week we will see just how hawkish the Reserve Bank of New Zealand is when they decide on their OCR. • However, local markets could be setting themselves up for some real disappointment if we “only” get a 25bps hike. • This could lead to yet another surge in the greenback and ultimately weigh on gold prices.
  • 19. Gold Spot / U.S. Dollar
  • 20. Thanks for listening Gold (XAUUSD) Price May Bounce Off $1,873 Resistance Level
  • 21. Gold (XAUUSD) Price May Bounce Off $1,873 Resistance Level