XAU/USD : Bull or Bear ? (READ THE CAPTION)

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By analyzing the #Gold chart in the 30-minute timeframe, we can see that last night the price dropped to $2708. As I mentioned, due to the sharpness of this drop, I expected the liquidity gap created by the decline to be filled quickly. We saw the price rise from the $2708 demand zone up to $2739, and it is currently trading around $2736.

Pay attention to the $2732 to $2735 range, as it is a key demand zone. If the price can hold above this level, we will likely see further growth in gold. However, if this important support zone fails to hold back the decline, we could potentially see a further drop with the first bearish target at $2727.

In case of continued growth (Scenario 1), the targets will be $2739.5, $2741, $2743.5, $2748, and $2755, respectively.

Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !

Best Regards , Arman Shaban

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تم فتح الصفقة

GOLD ~ $2739.5 Target Reached

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GOLD ~ $2743.5 Target Reached

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XAUUSD 4H Review – October 24th, 2024

Gold (XAUUSD) is currently chilling around 2736.230, up by a decent +0.76% today. On the 4-hour chart, it hit some resistance near 2755 and now seems to be pulling back a bit.

We’re seeing some consolidation around the 2730-2740 area, which could act as a solid support level. If this zone holds, we might see another push toward 2750-2755.

Key Levels to Watch:

• Resistance: 2750-2755
• Support: 2730-2725

Keep an eye on how price reacts around these levels. If the bulls step in, we could be headed back up. But if it breaks below 2730, we might be in for a deeper pullback.

Arman Shaban

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أغلقت الصفقة: تم الوصول للهدف

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!