4
Gold prices saw a modest intraday rise as they attempted to recover some earlier losses. However, the overall short-term trend remains bearish, with prices firmly below the key $3,200 level.
The metal continues to face downward pressure, trading below its 50-day exponential moving average (EMA50).
Advertisements
Technical indicators also signal weakness, as the Relative Strength Index (RSI) has dipped into oversold territory but continues to show negative momentum. This suggests that despite a temporary rebound, gold is likely to experience sustained selling pressure in the near term.
Advertisements
You Might Be Interested In:
