Gold Analysis – 25.Jul.2024
Gold Analysis: Upon analyzing the gold chart on the 2-hour timeframe, we observed that, as anticipated, the price entered the designated demand zone and managed to rise from $2358 to $2376, yielding a return of 180 pips. However, it faced selling pressure again and is currently trading around $2354. We need to monitor whether this level will hold as support or not.
An important scenario : If the price experiences a significant drop and falls below $2348, monitor the price action in that area closely. After gathering liquidity below this level, we might witness a strong upward jump.
(This Post on TradingView)
Author : Arman Shaban
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