GOLD - Will the bulls regain momentum?
The price of gold remains defensive at important technical levels, facing pressure near the lower range in recent days.
Gold has been consistently trading around the significant resistance zone of $1900 USD but has been unable to break through.
The overall trend across all timeframes continues to be a downward correction, so selling strategies will still be prioritized.
However, it is advisable to only engage in short-term scalping as there is a high possibility that gold may experience an upward surge due to its prolonged accumulation below the $1900 USD level.
Gold has been consistently trading around the significant resistance zone of $1900 USD but has been unable to break through.
The overall trend across all timeframes continues to be a downward correction, so selling strategies will still be prioritized.
However, it is advisable to only engage in short-term scalping as there is a high possibility that gold may experience an upward surge due to its prolonged accumulation below the $1900 USD level.
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