Gold Analysis – 16.Jan.2025
Gold Analysis: By analyzing the gold chart on the 4-hour timeframe, we see that, as anticipated, the price experienced another strong rally, breaking above $2700. Today, gold reached $2711 before encountering a bearish order block, triggering a correction. Currently, it is trading around $2703. With key reports like Retail Sales and Unemployment Claims ahead today, gold is expected to see heightened volatility. Given the current momentum, further correction is likely. The first corrective target for gold is $2698.5, with subsequent targets to be updated in future analyses. Stay tuned!
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Author : Arman Shaban
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