Gold trades near 4-month low

Yesterday, the XAU/USD pair traded in a different direction between $1,805 and $1,817 and closed the day unchanged. Today, gold was also traded in the narrow range of $1,802-$13, remaining near a four-month low.

The XAU/USD hourly chart still holds below the moving average line MA (200) H1 ($1851). According to the four-hour chart, the situation is similar. On the basis of the above, it is probably worth sticking to the south direction in trading and as long as the pair remains below MA 200 H1, it is necessary to look for entry points for sale to create a correction. 

Resistances are: $1832-40, $1869, $1879 Support Levels are located at: $1800, $1790, $1773

The main scenario of the couple’s promotion is to continue moving down to $1800 (minimum November 24). The alternative scenario is to set above 200 H1 and then increase to $1,893 (up to November 17).

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