FX.co ★ Technical Analysis of Intraday Price Movement of Gold Commodity Asset, Tuesday May 7, 2024.

Although on the 4 hour chart Gold commodity asset MA 20 still below MA 50 which indicates the Seller pressure is still exists but with the failure of Gold to break below level support area 2288,28-2276,77 gives the clue that in the near future, as long as the level area does not break below, the Gold has the potential to return strengthen where if the level 2331,56 broken above, Gold has the potential to continue its strengthen up to the level 2351,85 as the first target and if the momentum as well as volatility is supporting then level 2386,35 will be the next target to be aimed.

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