Nov.25 Gold Trading Strategy: Stay on the sidelines during Thanksgiving

Individual Nov 25, 2021 06:07:04 GMT
Leads´╝ÜNovember 25 spot gold rose slightly, short - term gold prices to take the initiative, Thanksgiving market may be limited volatility, suggested conservative wait-and-see, radicals on high short.
Thursday (Nov. 25) spot gold rose slightly, short - term gold prices to take the initiative, Thanksgiving market may be limited volatility, advised the conservative wait-and-see, the activist short on the rally. Daily level: Gold closed Wednesday with a cross star, suggesting that the long - short game intensified, while the short - fall pause. Technically, the MACD is dead crossed and gold breaks below the 1800 level, an important support level, indicating that bears are in the ascendant for now, but the oversold trend is still expected to keep gold on a firm footing in the short term. The lack of data guidance will also keep gold's moves limited due to light trading due to the Thanksgiving holiday. Therefore, it is suggested that conservative wait-and-see is the main, radicals can still try high short. Initial resistance above is focused on the psychological 1800 level, followed by the October 22 high of 1813.82 and the 20-day moving average of 1821.89. Initial support below is focused on yesterday's low of 1778.70, followed by the October 29th low of 1772.07 and the November 3rd low of 1759.01. (Spot gold daily chart) Resistance level: 1800.00; 1813.82; 1821.89 Support level: 1778.70; 1772.07; 1759.01 Short - term operation suggestion: conservative wait-and-see, radicals on high short. Spot gold was quoted at $1793.10 / oz at 14:06 Beijing time.

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