Gold Analysis – 19.Nov.2024
Gold Analysis: Analyzing the #Gold chart on the 4-hour timeframe, we see that price followed the forecasted upward movement but didn’t stop at the $2606 to $2618 range. This was primarily due to the escalation in tensions between Ukraine and Russia, which further boosted gold prices. Currently, gold is trading around $2631, and we need to observe whether it can hold above $2627 or not. If the price falls below this level, we might see a deeper correction. However, if it stabilizes above $2627, we could anticipate further gains toward higher targets, potentially reaching $2643 or even $2663, given the large liquidity void ahead. Key demand levels to watch are $2622-$2627, $2610, $2567! Keep a close eye on these zones as the price action unfolds!
(This Post on TradingView)
Author : Arman Shaban
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