FX.co ★ Technical Analysis of Intraday Price Movement of Gold Commodity Asset, Tuesday May 14, 2024.

If we look at the 4-hour chart of the Gold commodity asset, we will see hidden deviations between the Gold price movement and the Stochastic Oscillator indicator, which gives an indication that in the near future Gold has the potential to strengthen again, especially with confirmation from the 20 EMA which is above the 50 EMA. So as long as there is no weakening correction that breaks below the 2306.24 level, Gold has the potential to strengthen upwards to the 2377.85 level and if this level is successfully broken upwards then the next level that will be aimed at is 2400.43 as the main target and if the momentum and volatility are supportive then the 2430.61 level will be become the next target to be aimed at.

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