GOLD EDUCATIONAL UPDATE 01/01/2025
Good evening all! Please find the link below for the previous analysis related to this educational gold update!
Gold Educational analysis 23hour timeframe
Following up on the conclusion of our previous analysis, I had previously highlighted the institutional price zones between $2600.00 - $2603.00 and around $2640.00 - $2647.00 as potential areas influencing the next phase of price action.
As observed, Gold reacted at $2639.00 on Thursday, December 26, 2024, just below the previously identified range, before dropping to $2596.00, approximately 40 pips below the $2600.00 level.
Upon further analysis, I determined that the institutional zone spans from $2638.00 to $2647.00, which likely contributed to the price decline from $2639.00. Subsequently, Gold showed a reaction from the institutional level at $2596.00 on Monday, December 30, 2024.
Upon further review, it appears that the institutional area I initially marked at $2600.00 was invalid. After reassessment, the correct and valid institutional zone lies between $2593.00 and $2597.00, which I have now adjusted on the 23-hour timeframe above.
Gold 18hour timeframe
Upon reviewing both the 23-hour and 18-hour timeframes, my analysis suggests that Gold retains considerable bullish potential. Given that we have now entered the first quarter of the year, a period that is crucial for Gold, it is highly plausible that the price could advance toward the $2680.00 level in the near term.
Any questions please feel free to ask in the comments! Please read my previous analysis which i have attached the link above!
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