Gold Analysis – 05.Nov.2024
Gold Analysis: By analyzing the #Gold chart in the 1-hour timeframe, we can observe several reactions to the demand levels we identified. Yesterday, we saw an initial bounce from the $2733 zone, with a 70-pip rise taking it close to $2740. Later, this morning, the price dipped below $2730 and reached the $2727 zone, where it was met with strong demand, resulting in a sharp increase of over 200 pips up to $2745. Currently, gold is trading around $2742, and I expect it to soon make another move toward the liquidity pools above $2745 and $2748. After that, keep an eye on the price reaction at $2752. ⚠️ Note that today is the U.S. election day, and the market may experience significant volatility. Be cautious with your trades!
(This Post on TradingView)
Author : Arman Shaban
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