Daily Gold forecast 9 February 2024
Welcome, dear followers, to the weekly gold forecast and the daily analysis of gold starting from February 19th, 2024, and for the week extending from February 19th to February 23rd, 2024.
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| Gold forecast 9 February 2024 |
I will address in this article
- Weekly Gold forecast 9 February 2024 1D Time frame
- Weekly Gold forecast 9 February 2024 4H Time frame
- Weekly Gold forecast 9 February 2024 1H Time frame
1.Weekly Gold forecast 9 February 2024 1D Time frame
In the daily timeframe, gold prices are moving strongly upwards after testing the strong daily demand zone at the level of 1985. Therefore, I expect the current upward trend in gold prices to continue, aiming to achieve the first target at the resistance zone of 2026, then level 2062 as a second long-term target.
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| Weekly Gold forecast 9 February 2024 1D Time frame |
2.Weekly Gold forecast 9 February 2024 4H Time frame
In the four-hour timeframe, the same idea and expectations apply, as prices rebounded strongly from the demand zone at 1985 after breaking the last peak in the four-hour timeframe. Hence, I expect gold prices to rise to achieve the first short-term target at the resistance zone of 2030.
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| Weekly Gold forecast 9 February 2024 4H Time frame |
3.Weekly Gold forecast 9 February 2024 1H Time frame
I anticipate a slight rebound and correction downwards in gold prices in the hourly timeframe at the beginning of Monday, February 19th, 2024, before continuing the upward movement towards the resistance zone of 2030.
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| Weekly Gold forecast 9 February 2024 1H Time frame |
Buy limit :2003
Stop loss:1995
Take Profit :2030
Risk-Reward : 1_3
Note: Beware of trading gold during the upcoming week from February 19th to 23rd, 2024, particularly during the release of economic news. Here is the link to the most important economic news for the upcoming week. Click here
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