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Gold Price Expected to Decline Below Key Resistance of 3357
Currently, gold is trading around 3346. The likely scenario is a decline, provided that there is no four-hour candle close above 3357. As long as no four-hour close above 3357 occurs, gold is expected to gradually decrease. The immediate support targets are 3333 and 3327, which are very important support zones. Breaking these levels and closing a four-hour below them could open the door for additional declines to 3309 and 3297.
This is a general analysis and not a buy or sell recommendation.
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AI Analysis
The analysis indicates a bearish outlook for gold contingent upon price action around the 3357 level. The trader is watching for a four-hour candle close above this resistance to confirm a possible bu...
AI Recommendation
Given the current analysis, it is advisable to monitor the price action closely. Avoid taking aggressive long positions until a clear breakout above 3357 occurs. For those with a bearish bias, watch s...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.