Gold Analysis – 16.Jan.2025
Gold Analysis: By analyzing the gold chart on the 4-hour timeframe, we observe that following the release of Retail Sales and Unemployment Claims, the Dollar Index (DXY) dropped, leading to a rally in gold. As a result, the previous scenario did not materialize and has fully failed. Gold is now trading around $2724, and with its current momentum, it seems poised to target the liquidity above $2727. After collecting liquidity, we may see an initial price correction. Keep an eye on the price reaction within the $2726.5 to $2730 range. This analysis will be fully updated tomorrow, so get ready for an exciting and detailed new outlook! Stay tuned!
(This Post on TradingView)
Author : Arman Shaban
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