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Daily GOLD Forecast – 21.11.2023

The recent price movement aligns seamlessly with my previous analysis. It successfully reached the predetermined target. The market is progressing towards the crucial resistance level. There is a possibility that the price might establish a potential double-top pattern or exhibit a rejection candle, indicating an imminent pullback. Additionally, there is already a divergence present on the 4-hour timeframe. I speculate that gold could experience a downward movement by simulating a false breakout of the previous weekly high and retesting the 2000 level. Anticipating a brief retracement from the resistance zone, my target is set at the support area around 1985.365.