Gold Analysis – 31.Jan.2024
Gold Analysis: By checking the gold chart in the 4-hour time frame, we see that the price is currently trading in an important Rejection Block range, which may start to correct from this level, As I said in the previous analysis, you can consider the range of $2046 to $2048 for SELL, but based on my personal opinion, I suggest that you watch the market today and don’t open any position after the NY Session , because there are many important news in the market that can lead us to Stop Hunt moves from both sides! In addition, we will have the NFP statistics on Friday, and for this reason, this week is an important and volatile week for us traders! The first scenario of this analysis is a fall under the condition that the price stabilizes below the level of $2048, and the second scenario is if the price penetrates above $2049 and stabilizes, in which case we will witness the growth of gold up to $2053 and $2061!
(This Post on TradingView)
Author : Arman Shaban
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