By checking the TVC:GOLD chart, we can see that on Friday, with the announcement of the NFP statistics, gold started a heavy fall and was able to correct even up to $2028! After that, it was again accompanied by demand and started to grow, which was as expected because we had observed the important range of $2032 for possible demand! Gold finally managed to grow to 2039.750 and close at this price! Now, for the coming week, I expect that gold will continue to grow by maintaining the support of $2032! If this growth continues, its possible targets will be $2042, $2044, $2047, and $2052, respectively! (After this growth, I expect gold to fall again)
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
Trade closed: target reached
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As you can see, gold managed to hit the target of $2042 ✅ last night with its initial growth, and after that it faced further correction and fall and is currently trading in the range of $2022! Although I expected a correction from gold, but it started falling earlier than I expected and after hitting the first target, which of course is a good thing and it means that the power is still in the hands of the SELLERS, they don't allow more correction! We do not prejudge more than this and we have to wait for the opening of the NY market, because the price may hit a new Lower Low in the London session, but it will rise again until the New York session! This analysis will be updated!
Comment
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As I expected, gold started to grow again with a new Low made at the price of $2020 and is currently trading in the range of $2028! Awesome
Order cancelled
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After Reaching to the First Target (2042) . this analysis is not valid anymore and now the price reached to $2015 ! new TA will be posted soon in the Daily TF
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