Oro / DollaroLong
Gold Weakens Further as Market Awaits Fresh Catalysts
Good morning, traders! In the early hours of Friday's trading session, gold continues to weaken, losing over 12 pips.
This decline reflects a temporary pause from bullish investors as they seek new drivers for upward momentum. From a technical perspective, the chart shows that while long-term bullish momentum remains intact, the current pullback appears to be nearing its conclusion. Support is forming around the $2,566 zone, followed by $2,630.
In the short term, gold may experience further declines as the market awaits directional clarity from news expected later in the day. On the other hand, the long-term bullish trend remains a favored bet, with key upside targets marked clearly on the chart.
Happy trading, and may your trades be profitable! Don’t forget to leave a like and share your thoughts about the outlook for this precious metal. Cheers!
This decline reflects a temporary pause from bullish investors as they seek new drivers for upward momentum. From a technical perspective, the chart shows that while long-term bullish momentum remains intact, the current pullback appears to be nearing its conclusion. Support is forming around the $2,566 zone, followed by $2,630.
In the short term, gold may experience further declines as the market awaits directional clarity from news expected later in the day. On the other hand, the long-term bullish trend remains a favored bet, with key upside targets marked clearly on the chart.
Happy trading, and may your trades be profitable! Don’t forget to leave a like and share your thoughts about the outlook for this precious metal. Cheers!
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