Gold Analysis – 22.Feb.2024
Gold Analysis: As you can see, based on my expectation yesterday, Minutes of the U.S. Federal Reserve’s latest policy meeting released on Wednesday showed that a majority of the central bank’s policymakers are concerned about the risks of cutting interest rates too soon,And because of this, gold faced an initial drop and corrected it by more than 120 pips until $2020! After that, gold was again accompanied by demand and today it was able to grow up to the second range of supply and after reaching $2035, it faced a heavy selling pressure and corrected it up to $2027! The overall efficiency of this analysis is more than 190 pips, which I hope you have made the most of it! the range of $2034 to $2038 is one of the important ranges of supply and we have to see with today’s numerous news whether gold continues to fall or we should wait for targets above $2044! This analysis will be updated!
(This Post on TradingView)
Author : Arman Shaban
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