FX.co ★ Technical analysis of gold for November 25, 2016

The price has made a push down to our perfect buying area. We remain bullish above our major support at 1170.48 (Fibonacci projection, Fibonacci retracement) and we expect a push up from here towards at least previous major resistance at 1203.14 (Fibonacci retracement, horizontal pullback resistance).

Stochastic (21,5,3) is seeing bullish divergence vs the price signalling a bullish reversal is impending.

Buy above 1170.48. Stop loss at 1155.51. Take profit at 1203.14.