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Gold Price Analysis: Bearish Trend Anticipated

by Daisy

The price of gold is currently navigating within a bearish pennant pattern. Stochastic indicators are displaying clear overbought signals, suggesting an imminent motivation for the price to resume its downward movement. The primary objective is to breach the support line of the pattern at $2313.00, with the next significant target set at $2272.06.

Expected Trading Range for Today:

Support: $2310.00

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Resistance: $2345.00

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Trend Forecast: Bearish

Investors should monitor the price action closely, particularly the key support and resistance levels, as the market remains poised for further negative trades within the outlined bearish trend.

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