Technical Analysis of Daily Price Movement of Gold Commodity Asset, Tuesday November 07, 2023.
November 7, 2023 7:24 am
On the daily chart of Gold commodity asset, there is a Bearish 123 pattern which follow by the appearance of the deviation between price movement with Stochastic Oscillator indicators, so that based on these facts, in a few times ahead, Gold has the potential to weaken up to the level 1953.17. If this level successfully broken, then Gold has the potential to continue its weakness to the level area of 1843.73-1834.37 as the second target. But if on the way to these target level Gold suddenly return to be strong until it breaks above the level 2017.84, then all the described scenario before will become invalid and automatically cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
On the daily chart of Gold commodity asset, there is a Bearish 123 pattern which follow by the appearance of the deviation between price movement with Stochastic Oscillator indicators, so that based on these facts, in a few times ahead, Gold has the potential to weaken up to the level 1953.17. If this level successfully broken, then Gold has the potential to continue its weakness to the level area of 1843.73-1834.37 as the second target. But if on the way to these target level Gold suddenly return to be strong until it breaks above the level 2017.84, then all the described scenario before will become invalid and automatically cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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