FX.co ★ Gold 11.14.2019 - Rejection of the main pivot support, potential for more rally in next few days

Gold did exactly what I expected yesterday. Gold rejected from the main Fibonacci confluence at $1.449 and is heading towards the support at the price of $1.480-$1.485. Watch for buying opportunities on the dips.

Due to potential end of the downward correction in the background, I am expecting new up leg and potential re-test of the resistances at $1.485 and.

Stochastic oscillator is showing bull cross and oversold condition, which is adding more potential upside into our bullish view. Watch for buying opportunities.