⭐️ XAU/USD : Navigating Supply and Demand Shifts (READ CAPTION)

Hello Traders , Upon examining the gold chart in the 1-hour timeframe, we can see that after the price entered the targeted supply zone ($2352), it faced selling pressure and corrected with a drop of 230 pips down to $2328. Now, gold has closed at $2338, and I expect further correction with the market opening, although it’s possible that the price may re-enter the defined supply zone first before correcting with greater momentum. There are several important price levels ahead for gold that I urge you to consider and mark on your chart; these levels are, in order, $2366, $2375, and $2385. The potential scenario has been outlined on the chart.

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Best Regards , Arman Shaban

Trade active:

Keep an eye on 2346$ to 2352$ and $2341 too !

Comment:

Upon reviewing the gold chart, we observe that after the price managed to drop to $2320, it encountered some relative demand and rose again. Following the price increase to the $2344 level, we saw that gold once again experienced a decline, correcting down to $2328. The $2329 area is a demand zone, which is why we had a positive reaction to this level. Now, for further decline, we should wait for the price to penetrate and stabilize below $2328. If this occurs, the potential downward targets could be $2320, $2313, and $2303, respectively.

Trade closed: target reached:

The $2320 and $2313 target reached ✅