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Daily GOLD Forecast – 24.11.2023

Gold encountered resistance, leading to a decline after establishing a double top pattern. The market exhibits a sluggish pace, marked by the formation of a triangle pattern. My anticipation is that if the price descends towards the support zone in the range of 1984–1988, it could present a buying opportunity. I foresee the possibility of a false breakout from the triangle formation, followed by an upward move, thereby continuing the ranging behavior. My objective is set at the resistance zone, approximately around 1999.50.