Early trading gold rebounded strongly from the low of $4,456, surging to around $4,602 where it encountered resistance and pulled back. Currently oscillating around $4,573, with price action below the middle band of the Bollinger Bands, showing a range-bound consolidation pattern after the surge.
From the current technical picture, price has dropped significantly from the high of $5,420 to $4,124, followed by a rebound and correction. After the short-term oversold condition, there is a technical retracement requirement. The moving average system shows a bearish alignment, with price still runn
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