Technical Analysis 28-11-2016

GOLD: XAUUSD 1,194.16 / 1,194.70 by:

High: 1,197.44 | Low: 1,186.39

Gold went below the level reached last May and made a pullback. If the metal would rise above 1,200 $/oz a short term rally can lift the commodity to 1,240.  The 200SMA is at 1,286 at the moment. If a selling wave will occur is it likely that negative market sentiment could accelerate below 1,170, with key supports at 1,130 and 1,100. The RSI(14) is just off the oversold level.



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