XAU/USD (GOLD) : $2000 Reached , What’s Next ? (30.OCT.2023)
By examining the GOLD (XAUUSD) chart in the 12-hour time frame, we see that the price, as expected, managed to grow above $2000 and hit its bullish target! After the price reached the supply range of 2000$ to 2022$ and recorded its highest price in the last 6 months, which is 2009$, today it corrected from the same range to 1991$ with the opening of the market. It is still the first and one of the most important supply ranges in front of the price of this area and we have to see if the price will close and stabilize below this level or not! Personally, I predict that if the support price maintains the range of $1972 to $1991, we will see the price grow to higher ceilings, and if this happens, its targets will be $2020, $2048, and $2066, respectively!
(This Post on TradingView)
– Related Ideas
– XAU/USD (GOLD) : 27.OCT.2023
Author : Arman Shaban
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5 Responses
[…] was accompanied by renewed demand pressure and was able to grow up to $1988 ! As I mentioned in the previous analysis of GOLD , as long as the price maintains the support range of $1971 to $1977, it can move again towards the […]
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