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Daily GOLD Forecast – 28.11.2023

Gold achieved a recent peak but experienced a slowdown in momentum. My expectation is that the market could undergo a retracement towards the support at 2000–2002, the location of prior impulse movements. Should the price decline to the support level, a reevaluation of the recent resistance zone becomes a likely scenario. Notably, on the daily timeframe, the market successfully breached and consolidated above the former resistance, signaling a prevailing bullish sentiment. My target is set at the resistance zone, approximately around 2022.