FX.co ★ Technical Analysis of Intraday Price Movement of Gold Commodity Asset, Tuesday April 16, 2024.

With the appearance of the Bearish 123 pattern which is followed by a deviation between the Gold price movement and the Awesome Oscillator indicator, these two things give an indication that in the near future there will be a weakening correction in the Gold commodity asset, where as long as there is no strengthening again which penetrates above the level of 2408.47 then Gold will experiences a downward correction to level 2323.77. If this level is successfully penetrated downwards then level 2294.82 will be the main target to be achieved and if the momentum and volatility are supportive then level 2216.56 will be the next target to be aimed at.

(Disclaimer)