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Daily GOLD Forecast – 14.11.2023

The market experienced a retracement towards the resistance zone following a downward impulsive movement. On the 4-hour timeframe, the market underwent a corrective phase against the prevailing trend. However, upcoming news events could potentially alter the current direction. I anticipate the possibility of a two-legged pullback and a subsequent continuation of the downward trajectory. The market exhibited a bullish trend before turning bearish on Thursday. Presently, we observe a comparable movement. My target is set at the support level, situated around 1937.570.