The ceasefire between Israel and Hezbollah is the main pressure
On the Asian market on Tuesday (November 26), 
XAUUSD Spot trading is still under pressure after yesterday's terrible plunge. Gold price is currently around 2,629 USD/ounce.
Hopes for a ceasefire between Israel and Hezbollah are turning the gold price outlook bearish, with gold prices set to test $2,600 an ounce.
On Monday, gold prices fell more than 3% on reports that Israel and Hezbollah were close to reaching a ceasefire agreement and that Trump nominated Bessant as US Treasury Secretary, reducing its appeal as a haven. Safe for gold.
Two senior Israeli officials and two US officials told Axios that Israel and Lebanon are close to reaching a ceasefire agreement to end the conflict between Israel and Hezbollah, US-based Axios reported on Monday.
According to the Israeli ambassador to the US, a ceasefire agreement between Israel and Hezbollah is very close. Authorities are expected to announce a 60-day ceasefire today (Tuesday).
Previously, gold prices increased more than 6% last week, due to escalating Russia-Ukraine tensions.
Britain's Reuters also reported today that US President Joe Biden and French President Emmanuel Macron are expected to soon announce a ceasefire between Hezbollah and Israel.
According to Reuters, the French presidential palace announced that discussions on a ceasefire had made significant progress.
In Jerusalem, a senior Israeli official said the Israeli cabinet would meet today (Tuesday) local time to approve a ceasefire agreement with Hezbollah.
![GOLD MARKET ANALYSIS AND COMMENTARY - [Nov 25 - Nov 29]](https://s3.tradingview.com/f/FwS7acB5_mid.png)
Analysis of technical prospects forXAUUSD
After yesterday's terrible price drop, gold is trying to recover from its original price point of 2,600 USD.
However, the recovery also encountered a lower limit from the 0.618% Fibonacci retracement level, followed by horizontal resistance at 2,644USD.
Technically, gold has conditions for a downtrend, with the price channel as the main trend, pressure from EMA21 along with the RSI pointing down, bringing activity below the 50 level.
In the short term, if gold fails to hold above $2,600, a new bearish cycle could be opened with a target level of around $2,538 once $2,600 is broken below. However, currently gold still has the ability to recover with a resistance target of around 2,634 USD in the short term, more than 2,644 USD.
During the day, the technical outlook leans to the downside with the following recovery levels.
Support: 2,606 – 2,600USD
Resistance: 2,634 – 2,644USD
SELL XAUUSD PRICE 2661 - 2659⚡️
↠↠ Stoploss 2665
→Take Profit 1 2654
↨
→Take Profit 2 2649
BUY XAUUSD PRICE 2579 - 2581⚡️
↠↠ Stoploss 2575
→Take Profit 1 2586
↨
→Take Profit 2 2591
XAUUSD Spot trading is still under pressure after yesterday's terrible plunge. Gold price is currently around 2,629 USD/ounce.Hopes for a ceasefire between Israel and Hezbollah are turning the gold price outlook bearish, with gold prices set to test $2,600 an ounce.
On Monday, gold prices fell more than 3% on reports that Israel and Hezbollah were close to reaching a ceasefire agreement and that Trump nominated Bessant as US Treasury Secretary, reducing its appeal as a haven. Safe for gold.
Two senior Israeli officials and two US officials told Axios that Israel and Lebanon are close to reaching a ceasefire agreement to end the conflict between Israel and Hezbollah, US-based Axios reported on Monday.
According to the Israeli ambassador to the US, a ceasefire agreement between Israel and Hezbollah is very close. Authorities are expected to announce a 60-day ceasefire today (Tuesday).
Previously, gold prices increased more than 6% last week, due to escalating Russia-Ukraine tensions.
Britain's Reuters also reported today that US President Joe Biden and French President Emmanuel Macron are expected to soon announce a ceasefire between Hezbollah and Israel.
According to Reuters, the French presidential palace announced that discussions on a ceasefire had made significant progress.
In Jerusalem, a senior Israeli official said the Israeli cabinet would meet today (Tuesday) local time to approve a ceasefire agreement with Hezbollah.
Analysis of technical prospects for
XAUUSD After yesterday's terrible price drop, gold is trying to recover from its original price point of 2,600 USD.
However, the recovery also encountered a lower limit from the 0.618% Fibonacci retracement level, followed by horizontal resistance at 2,644USD.
Technically, gold has conditions for a downtrend, with the price channel as the main trend, pressure from EMA21 along with the RSI pointing down, bringing activity below the 50 level.
In the short term, if gold fails to hold above $2,600, a new bearish cycle could be opened with a target level of around $2,538 once $2,600 is broken below. However, currently gold still has the ability to recover with a resistance target of around 2,634 USD in the short term, more than 2,644 USD.
During the day, the technical outlook leans to the downside with the following recovery levels.
Support: 2,606 – 2,600USD
Resistance: 2,634 – 2,644USD
SELL XAUUSD PRICE 2661 - 2659⚡️
↠↠ Stoploss 2665
→Take Profit 1 2654
↨
→Take Profit 2 2649
BUY XAUUSD PRICE 2579 - 2581⚡️
↠↠ Stoploss 2575
→Take Profit 1 2586
↨
→Take Profit 2 2591
Not
Gold prices are struggling to capitalize on a modest intraday rebound from $2,600 an ounce, or a one-week low, and remained negative for a second straight day on Tuesday.Not
After a drop of nearly 100 USD/oz on Monday, world gold prices changed to a state of struggle on Tuesday in the US market and this morning (November 27) in the Asian market. The ceasefire agreement between Israel and Lebanon reduces the risk premium in gold prices, but the demand for "shelters" still remains at a certain level when the Russia-Ukraine war is still tense.Not
Not
XAUUSD is back in the 2600-2650 range after briefly trading above 2675. However, the price does not emphasize the trend, showing sideways movement.Not
On the occasion of Thanksgiving, the entire US market will take a break today. According to annual practice, tomorrow's trading activities are expected to take place in a quiet atmosphere, possibly even becoming one of the trading sessions with the lowest liquidity of the year in the entire market.Not
Gold reversed the day's decline, from around $2,620 to the top of its daily trading range entering the European session.Not
Gold has recovered in the Asian session this morning, currently fluctuating around 2,660 USD/ounce, up 30 USD compared to the previous session due to the market's concern that geopolitical risks remain tense as the war escalates in Russia. Ukraine. At the same time, the ceasefire between Israel and Hezbollah has not yet taken effect and Israel's retaliatory measures are still increasing tensions.
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🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
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