Gold is currently experiencing a downward trend on a daily basis. Last week, the price dropped below an important horizontal support level and remained below it.
This has created a supply zone with a broken structure and a descending trend line.
Today, there was a significant bounce back from the lower boundary of this zone, indicating strong resistance.
It is expected that bears will continue to control the market, with the next support level being at 2290.
This has created a supply zone with a broken structure and a descending trend line.
Today, there was a significant bounce back from the lower boundary of this zone, indicating strong resistance.
It is expected that bears will continue to control the market, with the next support level being at 2290.
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