Technical Analysis of Intraday Price Movement of Gold Commodity Asset, Tuesday, April 04 2023.
April 4, 2023 6:25 am
If we look at the 4 hour chart, there is a few interesting things in gold commodity asset :
1. The appearance of Triangle pattern.
2. There is a deviation between price with Stochastic Oscillator indicator.
From those two things, We can see that the volatility in gold commodity assets is currently decreasing but with price deviations with the Stochastic indicator giving a hint that in the near future Gold will be corrected down to the level of 11965.55-1959.87 and as long as the decline due to this correction does not continue past the level of 1950.35 then Gold still has the potential to turn up to the level of 2009.30.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
If we look at the 4 hour chart, there is a few interesting things in gold commodity asset :
1. The appearance of Triangle pattern.
2. There is a deviation between price with Stochastic Oscillator indicator.
From those two things, We can see that the volatility in gold commodity assets is currently decreasing but with price deviations with the Stochastic indicator giving a hint that in the near future Gold will be corrected down to the level of 11965.55-1959.87 and as long as the decline due to this correction does not continue past the level of 1950.35 then Gold still has the potential to turn up to the level of 2009.30.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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