Gold Analysis – 23.May.2024
Gold Analysis: By examining gold in the 1-hour time frame, we can see that the price experienced a heavy drop after yesterday’s analysis, which was due to the fact that the Federal Reserve announced that the interest rate will remain high for a longer period of time! Currently, gold is trading in the range of $2367 and there are very important supply zones in front of it! These ranges are $2371 to $2374, $2380 to $2383.5, $2387 to $2395, $2406 to $2415, $2422 and $2430 respectively! These are the key supply levels of gold that the price can reach in the short and medium term and react! There is a very important liquidity void in the range of $2395.5 to $2405.5, which I believe this FVG will be filled in the short term! The important demand levels are $2351 to $2358, $2328 to $2332, and $2323 to $2327, respectively! Note that you must monitor the price reaction to the mentioned key levels, because all these levels are tradable!
(This Post on TradingView)
Author : Arman Shaban
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