FX.co ★ Technical Analysis of Intraday Price Movement of Gold Commodity Asset, Monday October 21, 2024.

Although the Gold commodity asset is currently moving above its WMA (921) which indicates that it is in a strengthening momentum condition on its 4-hour chart, but with the emergence of deviations between the price movement of the Gold commodity asset and the MACD Histogram (osMA) indicator, in the near future Gold has the potential to be corrected to weaken down to the level of 2666.67 as its main target and if the momentum and volatility support it, then 2652.32 will be the next target to be aimed for, only if on its way to these level targets, Gold suddenly turns around and strengthens and breaks through and closes above the level of 2730.50, then all the weakening correction scenarios that have been described previously will be canceled by themselves.

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