Gold Analysis – 14.Oct.2024
Gold Analysis: By analyzing the gold chart on the 1-hour timeframe, we can see that since today’s market was partially closed, with major players on holiday, the lack of liquidity led to significant volatility. Today, the price managed to rise to $2,666, collecting liquidity above the $2,665 level. After that, gold experienced further fluctuations and eventually corrected down to $2,644. The upcoming support levels are between $2,636-$2,642, $2,643-$2,646, and $2,627-$2,630. If these first two support zones hold, we could expect further upside movement in gold, potentially pushing the price above $2,666. Should the bullish momentum continue, the next targets would be $2,670, $2,673, and $2,678.
(This Post on TradingView)
Author : Arman Shaban
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