Gold Analysis – 02.Sep.2024

Gold Analysis: By analyzing the #Gold chart on the 4-hour timeframe, we can see that on Friday, gold faced selling pressure for the fourth time after rising to $2526, dropping as low as $2490! This drop created a large FVG (Fair Value Gap), which I expect to be filled soon with a price increase. This gap is between $2506 and $2515. Additionally, if the price rises to this identified zone, be sure to monitor the price reaction closely to the $2512 to $2526 range! If we consider a bearish scenario in the short term, the key condition would be for the price to stabilize below $2515 after the rise. In that case, we can expect a drop to levels below $2490!
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Author : Arman Shaban
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