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In the 4-hour chart of the Gold commodity instrument, Convergence is visible, which confirms that in the near future Gold has the potential to strengthen even though because the Stochastic Oscillator indicator is above the Overbought level, in the near future Gold also has the potential to be corrected to weaken, but what is important is that as long as the weakening does not break and close below the level of 2938.65, Gold has the potential to strengthen again where the level of 3004.45 will be tested to be broken and close above that level if it is successful, Gold will confirm that it will continue to strengthen to the level of 3023.89 and if the momentum of strengthening and volatility support it, 3048.95 will be the next target to be aimed for.
(Disclaimer)
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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