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The price of gold has re-tested 1820.00 and maintains stability below it so far, accompanied by the loss of positive stochastic momentum and reaching areas of overbought, while the SMA 50 continues to exert negative pressure on the price.
Thus, these factors encourage us to continue to suggest the downtrend for the coming period, which is targeting 1765.00 as the next station, while the expected decline will remain valid unless the levels of 1820.00 and then 1838.10 are not exceeded and remain above.
The expected trading range for today is between 1780.00 support and 1825.00 resistance
The general trend expected for today: bearish
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