Gold Analysis – 14.Jun.2024
Gold Analysis: By analyzing the #gold chart on the 2-hour timeframe, we observe that after the PPI news was announced yesterday, gold initially experienced a price surge. It climbed to $2327 before encountering selling pressure, leading to a correction of over 320 pips down to $2295.
As previously mentioned, the $2295 to $2303 range was a significant demand zone, and the price responded positively to it. Currently, gold is trading around $2331, having broken yesterday’s high. If the price stabilizes above $2327, we can anticipate further growth in gold, with the first target being the liquidity pool above $2342.
Additionally, there’s a Fair Value Gap (FVG) ahead that might be filled next week, ranging between $2348 and $2373. This presents an exciting opportunity for traders to watch for potential movements in the market.
(This Post on TradingView)
Author : Arman Shaban
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