Gold analysis for 24.11

The gold price managed to break the 1800.00 level and stabilize with the daily closing below it, which supports the continuation of the expected bearish trend scenario for the upcoming period. It is also supported by the negative pressure formed by the moving average 50, waiting to visit the 1770.00 level as the next negative station.

Stability below 1800.00 is important to continue the expected decline, as breaching it may push the price to test the 1825.15 areas before any new attempt to decline.

The expected trading range for today: between the support 1770.00 and the resistance 1805.00

The forecast general trend for today: bearish