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From a technical perspective, the outlook remains unchanged, with XAU/USD continuing to trade within its established range below the 200-day Simple Moving Average (SMA). The recent decline can still be characterized as a bearish consolidation, suggesting that the path of least resistance for gold remains to the downside.
Technical oscillators remain in negative territory, confirming that bearish momentum continues to dominate the market. Therefore, any upward movement is likely to encounter difficulty in establishing a foothold above the $4,100 level.
The next key resistance level is located just above $4,200. A breakout above this level could pave the way for a move toward the 200-day Exponential Moving Average (EMA) and the 200-day SMA, both situated in the $4,500 level. Bulls will need to overcome this significant technical barrier to weaken the prevailing bearish sentiment and create scope for further gains.
On the other hand, immediate support is located at the psychologically important $4,000 level, followed by the $3,990 level, where buyers previously showed strong interest. A decline below this level would be interpreted by traders as a signal for further downside, leaving XAU/USD vulnerable to a deeper decline.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
