Gold keeps rising – Technical Analysis – 20-11-2015

Gold price continued to rise on the intraday basis affected by the previously formed falling wedge pattern as appears on image, with more positive support from the moving average 50, to succeed to breach the key resistance level at 1083.00 and settle above it until now.

Therefore, the bullish bias will be expected for the coming trading as long as the price is above 1083.00, targeting 1097.00 key resistance as a main target of the mentioned pattern.