It Is Possible That Gold Will Experience A Downward Correction

The XAU/USD Pair (Gold) Could Try To Resume Its Growth

Overall, on the daily chart, the gold commodity asset is still moving in a bullish bias condition which is indicated by the presence of the Bullish 123 pattern followed by the appearance of Ross Hook (RH) and PL Dots which are below which shows the energy of market participants which is still pushing go up and the level that will be tested in the near future is the Ross Hook level at 1803.95 to be broken up but please also pay attention to deviations that occur in price movements with the Awesome Oscillator indicator because it is possible that Gold will experience a downward correction in the near future to the area the Bullish Fair Value Gap level, if this level is strong enough to hold back the pace of gold's correction and as long as the correction to its bottom does not exceed the 1744.50 level, gold still has the potential to continue strengthening again.


Relevance up to 02:00 2022-12-08 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.

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The XAU/USD Pair (Gold) Could Try To Resume Its Growth

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