Gold Analysis – 05.Dec.2024
Gold Analysis: Analyzing the #Gold chart in the 4-hour timeframe, we observe that the price has been trading in a neutral range for over 9 trading days without following a specific trend. Considering the liquidity voids and FVGs above the chart, I expect that with a price stabilization above $2640, we could soon witness a strong bullish rally in gold. Tomorrow, we have the NFP report, which might finally determine gold’s next trend after 10 days of consolidation. I believe it’s likely that the NFP figures will come less than the forecast, potentially driving gold higher. Due to the current neutral market conditions, there haven’t been many attractive trading opportunities to capture a significant move. Patience is key as we wait for the best setup. All other assumptions from the previous analysis remain valid.
(This Post on TradingView)
Author : Arman Shaban
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