CFD Oro (US$/OZ)
Short

Gold: Examining Upcoming Targets and Supply Zones

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As anticipated in the previous analysis, gold experienced a decline. However, it appears another corrective wave, effectively wave C, may still be ahead. Before the next drop, a slight upward movement in gold prices is not unlikely, allowing sellers to re-enter the market.

On the 4-hour time frame, supply zones have been identified. Gold may rise to around $2,660, or alternatively, to $2,680 before resuming its decline. The $2,560 demand zone is the first key support and a potential bearish target for gold.

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