Gold Analysis – 15.Jan.2024
Gold Analysis: By re-examining gold in the 4-hour time frame, we can see that the price of gold faced selling pressure today by growing up to $2058 and entering the Rejection Block in the range of $2056 to $2062, and has managed to correct up to $2051 so far! Please note that the important demand range for gold is $2045, and as long as the price above this level is being traded, we cannot expect more fall of gold, so the most important condition for the continuation of the downward trend is to break and stabilize the price below this level. ! If gold continues to rise in the next 2 days, we can expect to reach the price of $2072, which is an important supply range for gold and you can monitor it! The second important supply range is $2077 to $2088 and the price may even grow to $2090 to collect more BUY-SIDE liquidity!
(This Post on TradingView)
Author : Arman Shaban
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