Gold bears target 4,100 as selling pressure builds
Gold extends its slide below 4,200, with the MACD and the RSI flashing weakness. The technical setup supports that risks are skewed to the downside.
XM Group
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36 hari yang lalu
Overview: Gold is extending its decline within a descending channel, tracking the pullback from the August highs, and slipping below the short-term uptrend line and 4,200. The move raises the risk of a deeper retracement of the August rally, while trading below key moving averages keeps the near-term bias bearish.
Momentum: The MACD and RSI reflect weakening momentum, supporting the downside bias.
Bearish Scenario: From around 4,165, further weakness could expose the long-term ascending trendline near 4,100. A break lower could open the door towards 4,000 and the June low at 3,940.
Risk: A recovery above the 61.8% Fibo near 4,230 could stem the current decline.
XM Group
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Regulasi: FSA (Seychelles), FSC (British Virgin Islands), CySEC (Cyprus), FSC (Belize), DFSA (UAE), FSCA (South Africa), FSC (Mauritius), CMA (Kenya)
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