🔥 XAU/USD - Time for Correction ? (READ THE CAPTION)
Updated
By checking the gold chart in the weekly time frame, we can see that the price is still in a strong upward rally and is breaking records every week!
Today, the price was able to grow up to $2352 and register a new ATH! Pay attention that the range of $2335 to $2353 is a supply range and it is the only range that can prevent further price growth, otherwise the next gold target is $2405 and based on my analysis a few months ago, we may finally see May gold reach the target of $2500!
So, for now, there is a 60% chance of a partial correction of this range, and a 40% chance that the price will penetrate above $2400! In times like this, trading is more difficult than ever, especially when you look for price reversals! So be careful with your trades!
The demand range is between $2303 and $2309!
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
Today, the price was able to grow up to $2352 and register a new ATH! Pay attention that the range of $2335 to $2353 is a supply range and it is the only range that can prevent further price growth, otherwise the next gold target is $2405 and based on my analysis a few months ago, we may finally see May gold reach the target of $2500!
So, for now, there is a 60% chance of a partial correction of this range, and a 40% chance that the price will penetrate above $2400! In times like this, trading is more difficult than ever, especially when you look for price reversals! So be careful with your trades!
The demand range is between $2303 and $2309!
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
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