Gold Drops +1,000 Pips, Then Recovers – $4,300 Next?

[Arman Shaban]

Re: [$Gold Smashes Another ATH – Eyes on $4](350 Next!)

By analyzing the Gold (XAUUSD) chart on the 15-minute timeframe, we can see that after rising to $4,294, gold suddenly faced a sharp drop of over 1,000 pips, falling to $4,185. After dipping below that level, it found strong demand and finally closed the weekly candle at $4,253.975.
The current price zone acts as an important supply area, and I expect an initial reaction from this level when the market reopens on Monday, followed by a potential strong breakout above $4,300.
Hope you all made the most out of this week’s moves — have a great weekend, everyone!

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