Gold price is in a truce to catch its breath

The (Gold) price declined in its last intraday trading, in a natural correctional move to gather its previous gain, with the (RSI) reach to exaggerated oversold levels and the beginning of negative overlapping signs from them, indicating the possibility for the continuation of the pressure in the near-term basis.

Despite this decline, the bullish trend remains the dominant on the short-term basis, supported by the trading alongside a bullish bias, providing a chance for its recovery if the price gather its bullish momentum again, especially with the continuation of the positive pressure that comes from its trading above the EMA50, providing renewed positive momentum in the intraday levels.