Gold Analysis – 11.Jul.2024
Gold Analysis: As we saw, the CPI statistics were released, and the actual figures were lower than the forecasted ones. This caused the gold price to start rising according to the first scenario, penetrating above $2393 to gather liquidity. Subsequently, it managed to fill its old FVG by rising to $2413. After that, gold faced selling pressure and corrected to $2396. As we observed, this strong upward movement created a significant FVG , which I expect to be filled by a short-term price decline. The other assumptions from the previous analysis remain valid.
(This Post on TradingView)
Author : Arman Shaban
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