XAU/USD: Gold Update, Testing Key Levels, Potential for Recovery

26 Haz

By analyzing the #gold chart on the 4-hour timeframe, we can see that after hitting the third target of $2337 from our last analysis, gold faced heavy selling pressure and failed to reach the subsequent targets. Following this, gold experienced a significant drop, correcting down to $2304, and has since seen renewed demand after gathering liquidity below this level. Currently, gold is trading around $2315. We need to see if the price can stay above this critical level for the next 8 hours. If the price falls below $2309 again, it will likely enter the $2200 range. However, if gold can stabilize above $2320, we might see it rise again to $2329. This analysis will be updated accordingly.

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Best Regards , Arman Shaban