19.03.202407:06 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Gold Commodity Asset, Tuesday March 19, 2024.

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Even though on the 4-hour chart of the Gold commodity asset, the condition of the Stochastic Oscillator indicator is at the Overbought area level and is getting ready to fall below level 80 at this time, but with the condition of the Gold price movement being above the 200 EMA and the Golden Cross condition between the 20 EMA which is above the EMA 50, it seems that in the near future there will only be a momentary weakening correction, which is important as long as the downward correction does not breaks below the 2123.83 level, then Gold still has the potential to continue its strengthening. This is confirmed by the emergence of the Failing Wedge pattern so that if the 2163.11 level is successfully broken above, Gold has the potential to continue its strengthening. up to level 2172.22 as the main target and level 2188.51 will be the next target to be aimed at.

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