Gold Analysis – 30.Aug.2024
Gold Analysis: By analyzing the #Gold chart on the 4-hour timeframe, we can see that, as expected, gold experienced a significant drop yesterday, hitting almost all of our targets! The return from yesterday’s analysis was about 200 pips, and currently, gold has reached the supply zone of $2524 to $2529 for the third time, trading around $2520 at the moment. Given that the price has penetrated this critical level multiple times, it might not reject the price from this zone again. If that’s the case, we could see gold rise above $2529 and even $2532. My advice to you is to avoid being a seller in this area for the fourth time! I hope you make the most of this analysis as well!
(This Post on TradingView)
Author : Arman Shaban
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