Gold Analysis – 12.Feb.2024

Gold Analysis – 12.Feb.2024

XAUUSD GOLD EURUSD GBPUSD Forex Gold Master Arman Shaban

Gold Analysis: By checking the gold chart in the 4-hour time frame, we see that the price closed at $2024.360 on Friday! With the opening of the market, we may have an initial upward movement and then gold will start its next corrective movement! But be careful that it is better to wait until the opening of the New York market to determine the main trend, because probably in the London session we may see movements to create a new High or Low and then the price will change the trend! Currently, $2020 has become a very important support for gold and $2034 is also a very important resistance for gold! My main view is still bearish! The possible targets of this drop are 2020$, 2016$, 2002$ to 2007$, 1997$ and 1979$ to 1986$ respectively!
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Author : Arman Shaban
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