XAU/USD : Get ready for a new ATH, Towards $3000?! (READ)

Gold's one-hour chart analysis confirms that the price has followed our previous forecast precisely, reaching the $2951 level as expected. Comparing the last five analyses highlights the accuracy of these projections.

Currently, after hitting $2951, gold is facing selling pressure and is trading around $2947. I anticipate a slight correction before another upward move.

Short-term targets: $2954 and $2956
Medium-term targets: $2966 and $2969

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Gold's 1-hour chart confirms that, as expected, it successfully hit the $2954 and $2956 targets yesterday. After setting a new high and sweeping liquidity above the previous peak, gold faced a sharp decline, correcting over 300 pips down to $2925.

I expect further liquidity grabs, with potential moves below $2921 and even $2917 before a possible reaction. Key supply zones to watch are $2937-$2941 and $2946.5-$2954. Stay patient and observe the price reaction at these levels!

Trade closed: target reached

On the 1-hour timeframe, we can see that gold surged to the $2945 supply zone, where it faced strong selling pressure. The bearish momentum was so intense that it didn’t stop at the liquidity levels below $2921 and $2917, leading to a massive 500-pip drop to $2888. I hope you made the most of this analysis!
Currently, gold is trading around $2914, and the next three hours will be crucial in determining whether the decline continues. The key supply levels to watch are $2923, $2929, and $2933. This analysis will be updated accordingly! (Late Update)

Note

Upon analyzing the gold chart on the one-hour timeframe, we can see that the price has once again started to decline as expected, forming another attractive correction from the $2920 level down to $2876. Upon reaching $2876, buying pressure increased, pushing the price up to $2894. Currently, gold is trading around $2886. If the price stabilizes above $2876, we can anticipate further bullish movement.

ArmanShabanTrading

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ArmanShabanTrading

Join me for more Free Signals and New Analyzes In the Public Channel :

⚜️ Free Telegram Channel : t.me/PriceAction_ICT

⚜️ Contact Me : t.me/ArmanShabanTrading

Also on: