Gold Analysis – 24.Oct.2024
Gold Analysis: By analyzing the #Gold chart in the 30-minute timeframe, we can see that last night the price dropped to $2708. As I mentioned, due to the sharpness of this drop, I expected the liquidity gap created by the decline to be filled quickly. We saw the price rise from the $2708 demand zone up to $2739, and it is currently trading around $2736.Pay attention to the $2732 to $2735 range, as it is a key demand zone. If the price can hold above this level, we will likely see further growth in gold. However, if this important support zone fails to hold back the decline, we could potentially see a further drop with the first bearish target at $2727. In case of continued growth (Scenario 1), the targets will be $2739.5, $2741, $2743.5, $2748, and $2755, respectively.
(This Post on TradingView)
Author : Arman Shaban
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