FX.co ★ Technical Analysis of Intraday Price Movement of Gold Commodity Asset, Tuesday July 23, 2024.

Even though Gold is currently weakening, this is confirmed by its price movement moving below the WMA (20), but the appearance of a deviation pattern between its price movement and the Stochastic Oscillator indicator gives an indication that in the near future Gold has the potential to be corrected and strengthen upwards to the level of 2439.65 However, if Gold fails to broken above the 2455.31 level, Gold will move down and weaken again, even the weakening could reach the 23491.6 level and if momentum and volatility support it, it could even go to the 2292.31 level.

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