Gold Analysis – 19.Dec.2024
Gold Analysis: Analyzing the #Gold chart in the 4-hour timeframe, we observe that following the interest rate cut and Jerome Powell’s speech, gold experienced a massive drop, falling to $2,584 — a correction of more than 670 pips in a single day! This sharp decline created a large liquidity gap, which has since been partially filled as the price rebounded to $2,626, covering over 60% of the gap. Currently, gold is trading around $2,614, and I still expect the possibility of further downside movement. Key levels to watch are marked on the chart for better clarity.
(This Post on TradingView)
Author : Arman Shaban
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