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Expert In



Short-term technical analysis on Gold for November 11, 2021.

Gold price broke out and above the Head and Shoulders pattern yesterday. Today price has recapture $1,860 and this is a positive sign. Despite Dollar strength, Gold price remains in a bullish trend.


Red line - neckline resistance (broken)

A back test towards $1,825 is not out of the question. Short-term trend remains bullish but a back test is justified. This does not mean we should expect a pull back. Any pull back is considered a buying opportunity. Gold price has potential to reach $1,950 and I do not expect to see a move higher as a straight line. I expect to see price form higher highs and higher lows.

The material has been provided by InstaForex Company -