Gold direction after the FOMC Meeting Minutes

The FOMC Meeting Minutes on Nov 25, 2020 is saying that the Fed will not implement more stimulus. However, gold did not drop to test the 1800-1801 to break it to continue its down trend to 1761-1765.

Today is Thanksgiving Holiday so gold has low trading volume and gold is expected to trade from 1801 to 1818.

The 1818 is an important level to watch for gold trend reversal, gold short term trend will be up if gold breaks the 1818.

If gold fails to break the 1818, the down trend is intact and gold is expected to drop to test the 1800-1810 zone.

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