XAU/USD : Upward Movement Expected Before Potential Correction

8 juil. 2024

By analyzing the #gold chart on the 4-hour timeframe, we observe that based on the latest analysis from Friday, gold experienced an initial drop but then saw renewed demand, eventually rising to $2393 and closing above this liquidity pool. After that, we saw that with the market opening, gold experienced a significant drop, correcting by over 200 pips to $2369. Now, the price is trading around $2374, and the old LV has been fully filled as expected, with the price making a higher high. First, I expect an upward movement from the price, followed by another correction. The initial growth targets are $2377, $2380, and $2400. After this growth, I will announce the downward targets.

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Best Regards , Arman Shaban

8 juil. 2024

Note

$2377 Reached !