GOLD ANALYSIS 07.03.2024

Market Behavior Analysis:

1) At the beginning of the month, the market tends to move against the trend.

2) Additionally, on Thursdays and Fridays, there's often a counter-trend movement.

3) Throughout Monday to Wednesday, there's typically an uptrend, providing a hint for counter-trend trading.

Strategy:

1) Utilizing Fibonacci retracement to determine optimal sell levels.

2) Focusing on the 161.8 and 2 Fibonacci levels as sell zones.

AO Analysis:

1) AO indicates a potential Lower High (LH).

2) If this occurs, it could lead to divergence, signaling weakening bullish momentum.