Gold Analysis – 05.Mar.2024

Gold Analysis – 05.Mar.2024

XAUUSD GOLD EURUSD GBPUSD Forex Gold Master Arman Shaban

Gold Analysis: : By checking the gold chart in the daily time frame, we can see that the price last day, after it finally penetrated above $2088 and failed the downward scenario, faced a stunning growth and has managed to grow up to $2123! I had an analysis on January 14, 2024 ( that I said that only if the price manages to penetrate above $2088, we will see gold grow to $2149! According to the analysis we presented yesterday, exactly the same thing happened and with the break of the $2088 resistance, our bearish scenario failed and the price is moving powerfully towards its last ATH! We haven’t seen a strong sign of price correction yet, and until it is proven otherwise, we can expect the price of gold to rise more! Key point : As you can see, gold, with its amazing growth, has created a lot of liquidity voids at different levels, which I expect to be filled in the medium term with the price fall!
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Author : Arman Shaban
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