Gold Analysis – 11.Oct.2024

Gold Analysis: By analyzing the #Gold chart on the 1-hour timeframe, we can see that after experiencing a stop hunt below the $2,605 level yesterday, the price rebounded and rose to $2,647. As previously mentioned, the $2,646 level was a key supply zone, which is why Gold showed a negative reaction upon reaching this level. Currently, the price is trading around $2,640. The total return on this analysis so far has been over 400 pips! If the price stabilizes below $2,646, we could expect further corrections; however, my main outlook remains bullish for now.
(This Post on TradingView)

Author : Arman Shaban
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