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XAU/USD | Gold Breaks Above $4400 and Prints a New ATH!

By analyzing the #Gold chart on the 4H timeframe, we can see that after the analysis we posted on Thursday, price first had a small correction and then resumed its move higher. With the market reopening today, gold showed strong momentum and finally broke above $4400, printing a new all-time high. Price reached as high as $4420, then pulled back slightly and is now trading around $4409.

This strong rally has created a liquidity gap, which I expect to be filled in the short term. Before that happens, we may first see another push higher toward the $4440 to $4444 area. After this potential final push, a corrective move is likely. The downside targets I am watching are $4389, $4374, $4358, and the $4335 to $4350 zone. Make sure to closely monitor price reaction around these levels. This analysis will be updated, and total performance so far is already over 1300 pips.

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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