Gold Analysis – 06.Mar.2024
Gold Analysis: : Upon reviewing the gold chart on the daily timeframe, we observe that as expected, gold continued its rise up to $2140 yesterday and then underwent a price correction, dropping to the $2122 range! Now, the price is once again gathering the necessary strength for a further ascent and is currently trading around $2132. Note that the upcoming supply zone for the price is between $2135 to $2140, and we will have to see what reaction we get once the price reaches this zone! Today, there are significant news events in the market that could cause severe fluctuations in the price! These important news events are, in order, the ADP Non-Farm Employment Change, Fed Chair Powell Testifies, and JOLTS Job Openings.
(This Post on TradingView)
Author : Arman Shaban
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