Market Analysis of XAUUSD on Tuesday 12 NOVEMBER 2024

2024-11-12 20:12Source:BtcDana

XAUUSD TECHNICAL ANALYSIS SHORT TERM VIEW    


 XAUUSD running in negative trend and its immediate strong resistance are 2638 to 2667 level .  Stop loss is 2665 level and it can fall towards 2530 level because expectation for wave 4 in major support  .Intraday purpose selling is better for targets 2595,2592 and 2586 levels respectively with stop loss 2665 level.


QUICK FUNDAMENTAL LOOK                                                                    


Gold futures fall to near eight-week lows. Futures slide 0.6% to $2,601.90 a troy ounce. The precious metal has slumped as investors show more appetite for risk assets after Donald Trump's victory in the U.S. presidential election, says StoneX's Fawad Razaqzada.


POC = Risk is a part of trading, use caution when placing orders and take market advice only into account .

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