On the daily chart, the gold commodity asset appears to be biased to still be in a bullish condition. This can be seen from the price movement inside the Pitchfork Channel which is going upwards and the price movement is above the Moving Average but since a few days ago it has experienced a correction when it met with the Mid Line from the Pitchfork and now together with the Stochastic Oscillator condition which is already in the Oversold area and the Candle Stick stuck at the Lower Line of the Pitchfork which is quite significant Support, in the next few days Gold does not break below the 1860.18 level, Gold will try to test the level the area 1895.80-1900.38 is the main target and if the volatility and momentum is strong enough then it is possible that the level 1959.23 will be the next target to be tested.
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Relevance up to 07:00 2023-02-12 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
