GOLD ANALYSIS 8TH NOV

Gold Price Analysis

Current Trend: Bearish

Key Observations: Gold has recently bounced from a 4-hour demand zone acting as support. However, it's rejecting from a major support level that has now turned into resistance.

Short Trade Setup:

Wait for the minor support to break.
Enter short positions on a retracement.
Target the 4-hour demand zone as the take-profit level.

Long Trade Setup:
Allow price to break above the 15-minute resistance level.
Look for a retracement to enter longs.