FX.co ★ Technical Analysis of Intraday Price Movement of Gold Commodity Asset,Wednesday, February 07 2024.

With the appearance of the hidden deviation between Gold price movement with Stochastic Oscillator indicator on the 4 hour chart which also appeared hold its strengthen against the Resistance level formed by the bearish Fair Value Gap, in the near future Gold has the potential to weaken down to the 2015.90 level as the main target and if the momentum and volatility support it then the 2001.12 level will be the next target to be aimed at in the near future but if it is on its way towards the targets that have been described, suddenly Gold strengthens upwards again until it breaks above the level of 2057.15, so it is certain that the decline scenario that has been described previously will become invalid and cancel itself.

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