Technical Analysis of Daily Price Movement of Gold Commodity Asset, Wednesday August 23 2023.
August 23, 2023 9:28 am
If we look at the daily chart of the gold commodity asset, it seems that there has been a deviation between its price movement and the CCI Histogram indicator and is supported by today’s entry of the Mercury Retrograde phenomenon which usually provides Time Support so that it gives potential for Gold to appreciate upwards where it is currently a Bearish level. Order block 1925.05 will be the main target to aim for even if the momentum and volatility are strong and fast enough, it is possible that the 1952.95 level will be the next target to try to go to but all the rally scenarios described will become invalid and cancel automatically if they are on their way to to these levels suddenly Gold turned back to its initial bias down to break below the 1884.31 level.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
If we look at the daily chart of the gold commodity asset, it seems that there has been a deviation between its price movement and the CCI Histogram indicator and is supported by today’s entry of the Mercury Retrograde phenomenon which usually provides Time Support so that it gives potential for Gold to appreciate upwards where it is currently a Bearish level. Order block 1925.05 will be the main target to aim for even if the momentum and volatility are strong and fast enough, it is possible that the 1952.95 level will be the next target to try to go to but all the rally scenarios described will become invalid and cancel automatically if they are on their way to to these levels suddenly Gold turned back to its initial bias down to break below the 1884.31 level.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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