Gold Spot / U.S. Dollar
Short

Gold trend in the last week of November

155
⚔️1. Trendline
Descending Trendline (upper red line)

Acts as the main dynamic resistance.

Every retest results in rejection → the overall trend remains bearish.

The 4.150 – 4.160 zone is likely where price may retest the trendline before reversing lower.

Ascending Trendline (lower red line)

Previously the nearest dynamic support but has now been broken.

The downside breakout signals weakening momentum, favoring SELL setups.

⚔️2. Resistance Zones
Resistance 1: 4.148 – 4.150 (Fibo 0.5 – 0.618)

Confluence of Fibonacci retracement and the descending trendline.

High probability that price will retest this area and reject strongly.

Resistance 2: 4.245 – 4.250

The strongest resistance zone (Fibo 1.0).

Only reachable if a strong bullish pullback occurs.

⚔️3. Support Zones
Support 1: 3.995 – 4.000 & 4.028 – 4.030

Confluence of static support + psychological level.

A technical bounce may appear here.

Support 2: 3.890 – 3.900

The strongest support zone.

Main downside target if the price gets rejected from the upper resistance.

⚔️4. Price Scenarios
⭐️Primary Scenario (Bearish)

Price pulls back to 4.148 – 4.152, retests the descending trendline → rejection → moves down toward:

TP1: 3.995

TP2: 3.890

⭐️Alternative Scenario (Bullish)

Valid only if:

Price breaks above the descending trendline

Closes above 4.160
→ Next target: 4.250

TRADING RECOMMENDATIONS

BUY GOLD: 3890 – 3888

SL: 3878

TP: 100 – 300 – 500 pips

SELL GOLD: 4250 – 4248

SL: 4260

TP: 100 – 300 – 500 pips

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