GOLD: Continue to Fall Sharply! The Market Turn to be Positive?

XAUUSD Gold Traders
05-14

Hello everyone! Today i want to share some macro analysis with you!

1.

$Gold - main 2506(GCmain)$ $XAU/USD(XAUUSD.FOREX)$ Continue to fall sharply! Partners have made a maximum profit of 200 points!

The New York market is about to start, and gold will most likely fall below $3,200!

2.

Gold's slide suddenly accelerated in the Asian market on Wednesday (14 May), with gold prices just dropping to $3228.66, hitting an intraday low !

In the short term, according to the 4-hour chart, the mildly bullish 200-period SMA is providing support around $3225.40, but at the same time, the 20-period SMA has accelerated to the downside after breaking below the flat 100-period SMA, in line with increased selling interest.

In addition, technical indicators consolidating within negative levels also support an extension of the bearish trend, especially if gold prices eventually break below the aforementioned 200-period SMA.

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