Gold fell nearly 2.5%, retesting its rising trendline and the 50-day SMA near $3,180 after failing to hold above $3,400:
📉 RSI dipped to 49, showing fading momentum but not yet oversold
📊 MACD is crossing lower, suggesting weakening bullish pressure
🟦 Key support:
Rising trendline and 50-day SMA near $3,180
Further downside could target $3,050
📈 Bulls want to see a strong bounce from this area to maintain the uptrend structure. A daily close below $3,180 would shift near-term bias neutral to bearish.
-MW
📉 RSI dipped to 49, showing fading momentum but not yet oversold
📊 MACD is crossing lower, suggesting weakening bullish pressure
🟦 Key support:
Rising trendline and 50-day SMA near $3,180
Further downside could target $3,050
📈 Bulls want to see a strong bounce from this area to maintain the uptrend structure. A daily close below $3,180 would shift near-term bias neutral to bearish.
-MW
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.