20.08.202404:42 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Gold Commodity Asset, Tuesday August 20, 2024.

Relevance up to 22:00 2024-08-20 UTC--4

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With the failure of the Gold price movement on the 4-hour chart to touch and test the middle Pitchfork (green) and the appearance of deviations between the Gold price movement which formed Higher - High while the MACD Histogram indicator on the contrary formed the same height / Double Top even though currently EMA 9 is still above SMA 50 which indicates Buyers still dominate Gold commodity assets but based on the two things mentioned earlier Gold has the potential to be corrected to weaken in the near future where 2462.88 will be the level that will be tested in the near future but as long as this weakening correction does not breaks below the level of 2443.96 then Gold still has the potential to continue its strengthening back to the level of 2508.11 and if this level is successfully broken upwards then Gold has the potential to strengthen to the level of 2525.43 and the level of 2572.26 if the momentum and volatility support.

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