Gold Analysis – 25.Oct.2024
Gold Analysis: By analyzing the #Gold chart in the 30-minute timeframe, we can see that after the price successfully hit our first three targets yesterday, it went through a correction and has now retraced as far as $2717. Note that there is a price gap between $2715.5 and $2716.5, which I expect to be filled as the correction continues today. After this gap is filled, we need to observe how gold reacts to this demand zone. Currently, the most important support level for gold in the higher timeframe is between $2707 and $2715. If this level fails to hold, we could potentially see gold drop even further, possibly reaching $2650 in the short term. This analysis will be updated as the situation progresses!
(This Post on TradingView)
Author : Arman Shaban
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