3 min readGOLD (XAU/USD):
Gold has cooled slightly over the past few days. If the price continues to decline, I’ll be watching closely to see how it responds in these lower areas of interest. The previous resistance level that we broke above would be an ideal area for accumulation, aligning well with the ascending trend line.
Looking more closely at the technicals, we can see that these areas of interest align with the 50% level on the Fibonacci tool. The RSI indicator is also not signalling that the price is currently oversold.
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