FX.co ★ Technical Analysis of Daily Price Movement of Gold Commodity Asset, Wednesday February 22, 2023

With the appearance of deviations between price movements with the MACD indicator and the Moving Average crossing negatively supported by the DMI (-) which is above its position on the daily chart, we can see the potential for a decline in Gold in the near future to the level of 1824.01 and if this level is successfully broken then Gold has the potential to continue its decline to the level of the area of 1746.84-1721.76 but if on its way Gold is suddenly corrected and reverses way past the level of 1918.13 then it is very likely that the decline scenario that has been described will become invalid and cancel itself.

(Disclaimer)