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XAUUSD 21 Nov 2023

XAUUSD 21 Nov 2023 on H1 timeframe. It can be seen that gold continues to experience a good bullish trend since yesterday. Being below the kumo cloud on the ichimoku indicator when initiating bullishness at the price position of 1970.19, now this commodity managed to get above the kumo and managed to occupy the price position of 1993.35. When referring to the stochastic indicator which looks oversold, it is possible that a trend reversal will occur. Therefore go-short could be an option when the trend turns bearish. However, if this commodity is able to maintain its bullish trend and continue to strengthen, then go-long is still an option. Keep an eye on the market movements and calculate all possibilities before making trading decisions.

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