Gold Analysis – 24.Jan.2024
Gold Analysis: By re-examining the XAUUSD chart, we see that after our analysis, the price managed to grow by 50 pips to $2037, and after that, it faced heavy selling pressure, and with the news that came in favor of the dollar index, this selling pressure was strengthened. Gold started falling from 2037$ and was able to correct up to 2011$! That means more than 250 pips! In general, the price was not successful in breaking $2039, and due to the fact that it had re-entered the Rejection Block, this fall happened! We have to see how far this fall will continue until the end of tonight! Pay attention that with the drop that happened today, a big FVG has been created, which I expect to be filled in the short term! The new and important supply range will be between $2029 and $2037! The demand ranges are between $2009 to $2010 and $2001 to $2007!
(This Post on TradingView)
Author : Arman Shaban
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