GOLD Weekly Outlook Nov. 24, 2024
Gold has aggressively bought up into now a premium level to finally begin to send price lower. Staying with my initial bias, that we have indeed capped the high of the year for Gold given the fact that it has bought aggressively the entire year and must now form the closing wick for 2024 trading year.
For the upcoming week I'm anticipating rejections out of the imbalances currently above price and the daily order block currently above price. I would love to see Monday range and either Tuesday or Wednesday manipulate that range. Looking at the Economic Calendar I see that the first significant High Impact news event occurs on Wednesday (Unemployment Claims 8:30am, and FOMC Minutes 2:00pm). so I would like to see that day either manipulate or be a continuation day from a Tuesday manipulation. If you have any questions regarding this analysis or outlook, feel free to send me a message here or on my other socials. Thanks.
For the upcoming week I'm anticipating rejections out of the imbalances currently above price and the daily order block currently above price. I would love to see Monday range and either Tuesday or Wednesday manipulate that range. Looking at the Economic Calendar I see that the first significant High Impact news event occurs on Wednesday (Unemployment Claims 8:30am, and FOMC Minutes 2:00pm). so I would like to see that day either manipulate or be a continuation day from a Tuesday manipulation. If you have any questions regarding this analysis or outlook, feel free to send me a message here or on my other socials. Thanks.
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