The (Gold) price declined in its last intraday trading, amid the dominance of the bearish correctional trend on the short-term basis, besides a continuous negative pressure comes from its move below its EMA50, this decline indicates the positive momentum especially with the price failure to return above the critical resistance at $3,260.
These pressures accompanied with clear negative signals that appear on the (RSI), after reaching overbought levels, reinforcing the possibilities of the continuation of decline in the upcoming trading unless breaching the mentioned resistance and regaining its bullish momentum.
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Source: Gold price suffers from the negative pressures -Analysis-19-05-2025
