Gold price builds support foundation-Analysis-15-11-2023

The price of gold closed above the 1962.35 level yesterday and started to provide active trading based on this level before today's opening. This supports the opportunity to realize more expected gains during the day, waiting to test the 1975.00 level, forming a key resistance for intraday trading. As a breakout, it represents the key to resuming the main bullish trend with an additional positive target of 20000.00 on the next leg.

Therefore, a bullish trend is still recommended in the coming period, and note that a breakout of 1962.35 will stop the expected rise and push the price downward again.

Today’s expected trading range is between support at 1950.00 and resistance at 1980.00.

Expected trend today: Bullish