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28.11.2024 05:37 PM
Trading Signals for GOLD (XAU/USD) for November 28-29, 2024: buy above $2,638 (21 SMA - 200 EMA)

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Gold is trading around 2,646 below the 200 EMA and below 4/8 Murray.

Yesterday gold approached this area representing strong resistance. As the instrument could not break it, the price resumed its bearish cycle.

If gold consolidates above 2,638 (21 SMA) in the next few hours, the outlook could be positive. So, we could expect a break above 2,656 and the price could reach 2,682 and even 5/8 Murray around 2,695.

On the contrary, with a break below 2,635, traders could see gold fall to 2,617. Eventually, the metal could reach 2/8 Murray at 2,578.

Dimitrios Zappas,
Analytical expert of InstaForex
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