Hello everyone! Today i want to share some macro analysis with you!
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$Gold - main 2506(GCmain)$ $XAU/USD(XAUUSD.FOREX)$ Technical: Gold prices are resuming their uptrend, but buyers must clear the 22 April high of $3,386 to prevent sellers from dragging prices lower.
After this, the next key resistance level for gold prices will be $3,400, then $3,450 and $3,500.
On the other hand, if gold falls hard below $3,300, this could open the door to a test of $3,200 and then the April 3 peak of $3,167. Once gold falls below the latter, sellers will aim for the 50-day simple moving average (SMA) of $3,041.
Expect today's trading range to remain between 3385-3315! Trade to keep sell orders trading!
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