GOLD: The Adjustment is Interim!
$Gold - main 2510(GCmain)$ $XAU/USD(XAUUSD.FOREX)$ Technical Analysis:
Despite retreating below Wednesday's low of $3,646, gold prices remain biased to the upside. If they hold above $3,600, the upward trend will continue. Although the Relative Strength Index (RSI) dipped below 70, triggering Wednesday's sell-off, price action remains constructive.
If gold reclaims $3,650, the next resistance level will be the all-time high of $3,703. A break above $3,750 and $3,800 are the next targets.
Conversely, if gold falls below the September 11 low of $3,613, it is expected to challenge $3,600. Based on today's trend, gold is expected to remain range-bound, with a trading range of $3,678-3,626 expected. Short-term trading is more suitable for today's trading.
A candlestick chart displaying gold prices (XAUUSD) over time, with horizontal lines at $3,600, $3,650, and $3,700 marking key levels. Red and green trend lines indicate price movements, with a red downward line and a green upward arrow. The chart includes a time axis from August to September and a price axis ranging from $3,500 to $3,800. A watermark from X is visible.
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