November 13 Gold Morning Analysis
Gold prices plunged to a one-year low, bottoming at 3852 before recovering. The market is now extremely oversold.
Bearish factors from last night continued to weigh on prices, while rising oil prices diverted funds, sending gold and silver lower in tandem after breaking key support levels. The 5-minute MACD is now showing bullish divergence and a golden cross, while the KDJ has entered negative territory—oversold signals have emerged.
Avoid chasing the decline during the morning session; the risk is high. The market is more likely to rebound first and test resistance.
Trading advice
Sell if the rebound encounters resistance at 3900–3915. The initial target is 3860, followed by 3840 and 3790.
Gold prices plunged to a one-year low, bottoming at 3852 before recovering. The market is now extremely oversold.
Bearish factors from last night continued to weigh on prices, while rising oil prices diverted funds, sending gold and silver lower in tandem after breaking key support levels. The 5-minute MACD is now showing bullish divergence and a golden cross, while the KDJ has entered negative territory—oversold signals have emerged.
Avoid chasing the decline during the morning session; the risk is high. The market is more likely to rebound first and test resistance.
Trading advice
Sell if the rebound encounters resistance at 3900–3915. The initial target is 3860, followed by 3840 and 3790.
