The (Gold) price rose in its last intraday trading, taking advantage of the stability of the support at $3,310 previously, gaining positive momentum that assisted it recover some of its previous losses, and the price remains under negative pressure due to the continuation of the trading below its EMA50, besides its affection by surpassing bullish channel’s range that supported its previous trading on the short-term basis.
The (RSI) reached exaggerated oversold levels, which provides strong chances for forming negative divergence that might limit the gains and increase the possibilities for facing new bearish wave in the upcoming period.
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