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Analysis of Gold for November 19,.2021 - Breakout might be in the play

Technical analysis:

analytics6197c5a3d32a0.jpg

Gold is still in the strong sideways regime and I expect this regime to be active until the FOMC meeting minutes next week.

Trading recommendation:

Due to strong sideways condition in last few days and low volume on the market, I see potential for the breakout in next period.

Upside breakout of resistance at the price of $1,877 can lead us towards $1,900

Downside breakout of support at $1,841 can lead us towards $1,823

Watch for the breakout to confirm further direction....

The material has been provided by InstaForex Company - www.instaforex.com