Gold Price Analysis: Potential Short-Term Decline Looms
Overall, Gold is still maintaining a strong upward trend due to political tensions in the Middle East.
On the 1-hour chart, we see that prices are still fluctuating near the Simple Moving Averages (SMA) and holding steady around the retreat level of 2,431-2,432 USD. However, there are signs indicating that prices are gradually adjusting and may transition to a short-term downward trend. If prices break below the support level of 2,431 and continue to decline, we may witness a sharp downturn.
On the other hand, political tensions in the Middle East, combined with the weakening of the US Dollar, are providing strong momentum for the upward trend.
On the 1-hour chart, we see that prices are still fluctuating near the Simple Moving Averages (SMA) and holding steady around the retreat level of 2,431-2,432 USD. However, there are signs indicating that prices are gradually adjusting and may transition to a short-term downward trend. If prices break below the support level of 2,431 and continue to decline, we may witness a sharp downturn.
On the other hand, political tensions in the Middle East, combined with the weakening of the US Dollar, are providing strong momentum for the upward trend.
Commento:
⭐️Please join my community today at:
t.me/+P8VWYYU0gGsyNDJl
✅ Get a transaction signal with a win rate of up to 80%
✅ Enjoy free signals with high accuracy to bring your transactions to a new level.
t.me/+P8VWYYU0gGsyNDJl
✅ Get a transaction signal with a win rate of up to 80%
✅ Enjoy free signals with high accuracy to bring your transactions to a new level.
