Gold Price Forecast: November Low on Radar as RSI Snaps Upward Trend

Gold Price Forecast: November Low on Radar as RSI Snaps Upward Trend? The price of gold has been on a roller coaster ride as of late and is starting to pick up momentum as of now. If you’re holding a bull market gold trading, then you are in for a treat as gold prices are primed to start their second wave of gains. But, this does not mean that you can go on a spending spree without limits or that you can triple your investments overnight. Be sure to do your homework and get some solid information before you invest any of your hard earned cash.

First of all, if we looked at the gold price chart, we would see that there is actually a clear bullish price action happening right now on the metal. This is happening even as the world is dealing with a record number of defaults on its debt obligations. It would appear that the greenback (bullish price action) is being triggered by the Fed’s quantitative easing programs and China’s interest rate cut. The combination of these two events would seem to be bullish behavior in the market that will be hard to ignore given how the markets have been reacting over the last few days. Gold bulls could be getting quite excited with the prospect of a breakout in gold prices.

Now, what does this mean for traders looking to capitalize on this rally in gold prices? First and foremost, this means that anyone that wants to take advantage of this rally needs to have their buy stop position in place prior to the formation of this pattern. You should set your stop loss earlier on in this bullish price action so that you don’t get too much of a penalty when the price takes a nose dive later on. It is important to note that the formation of this pattern does not happen every time, so it doesn’t automatically mean that you are getting ready to cash in on this. However, if you do find this happening more often, you can start to see why some traders feel that this form of bullish behavior in the market can turn into a large profit surprise.

As gold prices begin to form a heads up, you can expect to see a lot more people getting into short gold trades and turning those trades into profit hits rather quickly. This is good news for the traders that have already done a good job of finding good trading opportunities in a bearish market. They just need to make sure that they can act on those opportunities before the bears completely push them out of the market.

However, those looking to ride out the November low on gold price should also understand that the pattern is not likely to change dramatically over the next few days. The formation of a v-shape recovery may continue to move in a narrow channel, but it may not break free of the current channel and begin to move against the dealers. If you are able to buy at the beginning of the channel, you may be able to hold onto your profits as it begins to move back to the prior range bound price action. In fact, many investors may actually wait for the pattern to form and then act on the news that the market has broken out of this range bound price action.

Traders that are expecting the market to jump out of this November low on gold price quickly will be disappointed. It is likely that the market will remain below where it has been for the past few weeks. Gold prices have begun to increase following the November lows with hopes of breaking out above the prior trend line. Gold short sellers are currently exiting their positions as the traders that enter them now are expecting to see continued declines in gold price to the downside. This may continue to move the market down temporarily, or may continue to move the market up temporarily as long as supply and demand factors are able to support the price direction.

Gold price may continue to move up slightly as traders look to profit from the broken-out channel patterns, but it will likely be accompanied by a large number of selling announcements and buying announcements from short sellers that will push the price lower. This could result in a short squeezes in gold transactions as buyers look to take advantage of the short squeeze and may result in a temporary break out of the November low. This may also cause a large number of short traders to enter the market causing prices to move downward. As long as the channel patterns remain intact and buyers and sellers do not become too oversold, the gold trades that are conducted during this time will likely be profitable as long as the channel patterns are intact.

The above overview provides a general look at the market conditions for gold trading at this time. To get a more detailed view of how this market may react when the current trend line is broken, the professional gold traders will require to obtain more precise data and a good sense of the market dynamics. It is also important to note that the market may continue to move in a sideways manner, which may provide for a very attractive opportunity to short gold trades and make a profit if the short s

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