For Traders

Analytical Reviews

Technical analysis

26.03.202406:02 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Gold Commodity Asset, Tuesday 26-03-2024.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

If we look on the 4 hour chart of Gold commodity asset, there is seem on the sideways condition where this is confirmed by WMA 30 Shift 2 moving between Candlestick body. Even though the existence of Gold price movement is below the WMA 30 Shift 2 and supported by Stochastic Oscillator also has intersected with SELL, then in the near future Gold has the potential to weaken down where the level of 2162,77 will try to break and if the level successfully broken down, then gold will has the potential to continue its weakness to the level 2156,67 as the main target and level 2145,61 will be the next target to be aimed of. However if on the way to those level target suddenly there is strengthening correction on the commodity asset especially if successfully broken above the level 2204,97, then the weakness scenario and downward that has been described before will automatically invalid and will cancel itself.

(Disclaimer)

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.