GOLD Spot technical analysis 26.11.2019

Gold prices are correcting upwards against the backdrop of the continuing US-China trade talks. Gold can recover locally, but it will remain under pressure in the future, as the US-China trade agreement will be eventually reached.

The price is below the middle Bollinger bands, at SMA 5, but below SMA 14. RSI is located above the oversold zone and turned up. Stoch are not informative.

Trading recommendations:

A price could rise above 1457.809 and then to 1462.50. Sell from this level with a target of 1444.50 amid the positive US economy data to be published today.