Gold Analysis – 06.May.2024
Gold Analysis: By examining the gold chart in the 2-hour time frame, we can see that the price on Friday, after growing up to $2320, faced a heavy selling pressure and fell from $2320 to $2277, that is, more than 420 pips of yield! Finally, gold closed at $2301 on Friday, and today we saw gold grow again to $2324. Now, as I indicated on the chart, gold is in the supply range of $2319.5 to $2328, and if the price cannot reach Above this level, we can expect more fall from gold, whose possible targets are $2312, $2303 and $2290, respectively!
(This Post on TradingView)
Author : Arman Shaban
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