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On the 4-hour chart, the Gold commodity instrument appears to have a Divergence between the Gold price movement and the Stochastic Oscillator indicator, which indicates that in the near future Gold has the potential to weaken to test the level of 3378.89. If it is successfully broken and closes below it, then Gold has the potential to continue its weakening back to the area level of 3319.20-3295.12 as its main target to be aimed at, and if the volatility and momentum of the weakening support it, then 3181.31 has the potential to be the next target to be aimed at, but if the level of 3378.89 is strong enough to withstand the rate of decline in this Gold commodity instrument, it will strengthen Gold again, but as long as the strengthening does not breaks and close above the level of 3450.76, the strengthening is only a temporary correction and Gold will weaken again.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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On the other hand, if Bitcoin consolidates above the 7/8 Murray level, it is likely that it will reach the strong resistance of the 8/8 Murray level located at $112,500
If gold recovers above the 200 EMA at 3,327, we could expect a pullback to 3,345. This area represents strong resistance and could be seen as a selling opportunity
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