Gold Analysis – 19.Jul.2024
Gold Analysis: After reaching the targeted demand zone, the price showed a very short positive reaction and then continued its decline, dropping to $2393 for further liquidity gathering. However, it has since encountered demand pressure again and is currently trading around $2404. We need to see if the price will stabilize above $2400 again. To determine the trend for next week, we must see whether gold closes above or below $2400 today. Note that the bearish selling pressure remains high, and we should wait for more stability in the market.
(This Post on TradingView)
Author : Arman Shaban
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