From an RTM perspective, the gold chart is in a phase of order accumulation and redistribution. The existing evidence favors sellers in the short to medium term. The price is expected to move towards the demand zone around $3,170 for a retest. Traders should carefully monitor the price action at the top and bottom of this trading range to make more informed trading decisions.
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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.