After testing the level of the Bearish Fair Value Gap area which functions as a quite significant resistance level on the daily chart for commodity assets Gold it seems that within the next few days Gold has the potential to be corrected down to the level of 1824.01 moreover this condition has also been confirmed by the appearance of deviations between movements the price of Gold with the MACD indicator so if this level is successfully broken down then Gold will have the potential to continue its decline to the level of 1727.97 but please note if on its way down Gold suddenly experiences an upward movement which exceeds the level 1918.13 then there is a high probability of a decline scenario that has been described will become invalid and automatically cancel by itself.
Relevance up to 04:00 2023-02-19 UTC+1 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.
