Gold Analysis – 09.May.2024

Gold Analysis – 09.May.2024

XAUUSD GOLD EURUSD GBPUSD Forex Gold Master Arman Shaban

Gold Analysis: Upon reviewing the gold chart in the 2-hour timeframe, we observe that the price, following last night’s analysis, has rallied once again, soaring to $2319! However, it wasn’t long before it encountered selling pressure and has corrected to $2307 as of this moment! As I mentioned in the previous analysis, the significant demand zone for gold lies between $2303 and $2291, and I anticipate that upon entering this level, the price will once again meet demand, potentially yielding a return of at least 100 pips to 350 pips from this range! The second crucial demand level is situated between $2268 and $2284.
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Author : Arman Shaban
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