Gold Price Analysis, February 19-23, 2024
Gold prices have shown promising signs of potential upward movement during the week of February 19th to 23rd, 2024.
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| Weekly Gold Price Analysis, February 19-23, 2024 |
A detailed analysis of the daily and four-hour timeframes reveals interesting patterns that traders can leverage for informed decision-making.
In this article, we will explore :
- Cost of Gold Today
Daily Timeframe Analysis
- Four-Hour Timeframe Analysis
Cost of Gold Today
| Live Gold Price | Gold Spot Price Today |
|---|---|
| Gold Price per Gram | $65.26 |
| Gold Price per Kilo | $65,256 |
| Gold Price per Ounce(28.34 g) | $2,029.69 |
Gold Price Today : Convert Gold Ounce to US Dollar Or vice versa
Gold price chart in U.S. Dollar per ounce, Live gold price chart
Daily Timeframe Analysis:
In the daily timeframe, gold prices have recently touched a significant price gap at the level of 1990. This occurrence is indicative of strong support and signals the initiation of a new bullish wave in the market. Traders should pay close attention to this level as it may serve as a crucial turning point for gold prices in the coming days.
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| Weekly Gold Price Analysis, February 19-23, 2024 |
Four-Hour Timeframe Analysis:
A closer examination of the four-hour timeframe suggests the potential for a retest of price levels, particularly in smaller timeframes such as the hourly chart. This retest provides traders with an optimal entry point for long positions on gold. Setting a stop-loss order at 1975 and profit-taking orders at 2019 and 2060 as the initial and secondary targets, respectively, ensures effective risk management and profit maximization.
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| Weekly Gold Price Analysis, February 19-23, 2024 |
The weekly analysis of gold prices for the period from February 19th to 23rd, 2024, paints a favorable picture for bullish momentum. Traders are advised to closely monitor price movements, especially focusing
on retests in both the daily and four-hour timeframes. By leveraging these insights, traders can capitalize on potential buying opportunities while effectively managing risk.
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