Gold Analysis – Potential Pullback Within Ascending Channel
Key Observations:
Current Price: $2,900.48
Recent High: $2,907.29
200 EMA (Red Line): $2,758.59 (Strong support level)
Projection: Price may correct lower towards the channel’s lower boundary (~$2,875)
Analysis:
📊 Short-Term Bearish: A pullback could happen before further upside if the trend holds. If price breaks below the channel, a deeper correction towards the 200 EMA might follow.
🔍 Trading Idea: Traders might look for buying opportunities at the lower trendline (~$2,875-$2,880) if price shows support.
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