Gold Price Analysis: Key Levels and Scenarios for Potential Move

30 May 2024

### SMC-Based Setup Analysis:

1. High Probability Buy Setup:
- If H1 candle closes above 2364-65, initiate a big buy.
- Target: 130-250 pips move up to the 2386-2394 area (Fibo 0.50% area).
- This area might act as a good reversal point.

2. Downside Scenario:
- If H4 candle closes below 2330, expect a downward move.
- Target: 2298-2290 area (potential support for gold prices).
- This scenario is likely due to high volatility and rejection from the H4 Fair Value Gap area.

3. Alternate Upward Push:
- Price may get a significant upward push from the 2290-2300 area.
- Target: Approximately 100 pips move upwards.

16 Tem 2024

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