Technical Analysis of Intraday Price Movement of Gold Commodity Asset, Tuesday April 30, 2024. Forex analysis review

With the appearance of deviation between price movement with Stochastic Oscillator indicator as well as the appearance of bearish Flag pattern as well as supporting by EMA 20 which intersects of death cross with EMA 50 then the probablity of weakness on Gold commodity asset on the 4 hour chart is widely open so that based on the facts, in the near future, Gold has the potential to depreciated to the level 2319,32 and if this level successfully broken downward, then Gold will still continue to weaken to the level 2299,04, and if the momentum and the downward volatility still continue, Gold still has the potential to keep goin down to the level 2289,10 unless if on the way to those targets suddenly there is a strengthening of Gold which is quite significant especially if manages to break above the level 2352,03 then all the weakness scenario that has been described before will automatically cancel itself and become invalid.

(Disclaimer)

The material has been provided by InstaForex Company – www.instaforex.comWith the appearance of deviation between price movement with Stochastic Oscillator indicator as well as the appearance of bearish Flag pattern as well as supporting by EMA 20 which intersects of death cross with EMA 50 then the probablity of weakness on Gold commodity asset on the 4 hour chart is widely open so that based on the facts, in the near future, Gold has the potential to depreciated to the level 2319,32 and if this level successfully broken downward, then Gold will still continue to weaken to the level 2299,04, and if the momentum and the downward volatility still continue, Gold still has the potential to keep goin down to the level 2289,10 unless if on the way to those targets suddenly there is a strengthening of Gold which is quite significant especially if manages to break above the level 2352,03 then all the weakness scenario that has been described before will automatically cancel itself and become invalid.(Disclaimer)The material has been provided by InstaForex Company – www.instaforex.com  Read More 

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