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07.11.202317:18 विदेशी मुद्रा विश्लेषण और समीक्षा: Technical analysis on Gold for November 7th, 2023.

Exchange Rates 07.11.2023 analysis

Blue lines- Fibonacci retracement levels

Gold is under pressure for a second day in a row. Price has just slipped below the 23.6% Fibonacci retracement as expected. In previous posts we noted that Gold price is vulnerable to a move lower. The RSI is turning lower from overbought levels. Next downside target is at $1,930 where we find the 38% Fibonacci retracement level. There are high chances that the entire upward wave from $1,809 is complete and that we are in a corrective pull back phase. That is why we use the Fibonacci retracement tool, in order to identify key support levels.

*यहां पर लिखा गया बाजार विश्लेषण आपकी जागरूकता बढ़ाने के लिए किया है, लेकिन व्यापार करने के लिए निर्देश देने के लिए नहीं |

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