OANDA:XAUUSD   Gold Spot / U.S. Dollar
Upon reviewing the gold chart in the 2-hour timeframe, we observe that the price, following last night’s analysis, has rallied once again, soaring to $2319! However, it wasn’t long before it encountered selling pressure and has corrected to $2307 as of this moment! As I mentioned in the previous analysis, the significant demand zone for gold lies between $2303 and $2291, and I anticipate that upon entering this level, the price will once again meet demand, potentially yielding a return of at least 100 pips to 350 pips from this range! The second crucial demand level is situated between $2268 and $2284.

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Predict through in the comment section what you think the closing price of gold will be by the end of tonight!!
It's Going up before it come to our specefied Demand Zone !
GOLD just reached $2339 !

By checking the gold chart in the 2-hour time frame, we can see that yesterday's price started growing earlier than we expected and was able to increase by more than 700 pips to $2379! Now gold is trading in the range of $2361 and we will probably see more price correction! The supply ranges are $2369 to $2379 and $2389 to $2402 respectively! Demand levels are $2335 (first target), $2329 and $2323 respectively! So first we will see an upward movement again and then the price will fall!

As we identified in today’s gold analysis, the range from $2369 to $2379 was an important supply zone. I expected the price to first rise to this level and then experience a drop, which is exactly what happened! Gold initially rose to $2372 and then, under selling pressure, fell by more than 150 pips, correcting itself to $2356. I hope you have made the most of this analysis!

By checking the gold chart in the 2-hour time frame, we can see that the price, after entering the range of our desired supply according to the analysis, was accompanied by a fall and finally closed on Friday at the price of $2360, and today with the opening of the gold market. It was accompanied by a further drop and corrected up to $2338! Now, I think the price will have an upward movement from this range (BUY) and then in the area of $2359 to $2364 we can wait for the Sell pressure (SELL)!

Trade closed: target reached

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