GOLD ANALYSIS 08.05.2024

1) The price structure has formed Higher Lows (HL) and Higher Highs (HH).

2) Potential upward movement can be anticipated for today.

3) A breakout above the upper trendline indicates buyer strength.

4) Fibonacci retracement is used to identify suitable buy levels.

5) Entry point is chosen at the 61.80% level (around 2312.00).

6) Stop Loss (SL) is set at 2307.00 to manage risk.