Analysis of Gold for November 18,.2021 - Trading range and potential for the breakout

Technical analysis:

Gold has been trading sideways at the price of $1,863 but there is potential for the breakout in next days.

Trading recommendation:

Watch for the breakout to confirm further direction.

The upside breakout of the resistance at $1,877 can lead Gold towards $1,900

The downside breakout of the support at the price of $1,848 can lead Gold towards the level of $1,835.

Possible scenario is that Gold can be locked in trading range until the FOMC meeting minutes next week.