Gold Analysis – 16.Jan.2024

Gold Analysis: By checking the gold chart in the daily time frame, we can see that after the price started to fall from $2063, it finally entered the desired FVG and corrected until $2013! After this incident, the price was accompanied by the demand and the geopolitical currents in the region came to the aid of the bulls and they were able to raise the price again to $2062! After the price reached this range, as you can see, it faced more selling pressure and managed to correct up to $2038! If the price stabilizes below $2046 in the daily time frame, we can expect a further drop from gold, whose possible targets will be $2035, $2029, $2014, and $2000, respectively!
(This Post on TradingView)

Author : Arman Shaban
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