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FX.co ★ Technical Analysis of Intraday Price Movement of Gold Commodity Asset, Thursday, September 07 2023.

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Forex Analysis:::2023-09-07T05:54:19

Technical Analysis of Intraday Price Movement of Gold Commodity Asset, Thursday, September 07 2023.

Technical Analysis of Intraday Price Movement of Gold Commodity Asset, Thursday, September 07 2023.

With the appearance of deviation between the price movement of Gold commodity asset with CCI indicator as well as the appearance of bearish 123 pattern followed by Ross Hook (RH) and supported by the release of the United States Manufacturing ISM which is increasing, the gold commodity asset in the near future will try to test to break below the level of 1914.79. If this level is successfully penetrated below, the level of 1900.75 will be the main target to be aimed at and if the momentum and volatility are sufficiently supportive today then the level 1888.61 will be the next target to be aimed at, but if on its way to these levels suddenly there is a significant upward correction that breaks above the 1927.61 level, then all the scenarios previously described will become invalid and cancel automatically.

(Disclaimer)

Analyst InstaForex
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