Gold has shown a significant correction after reaching highs near $3,421, forming a classic "M" pattern. The recent strong bearish momentum has pushed the price below the 50-day EMA, suggesting potential continuation toward lower support levels Key Levels:


Resistance: $3,360 – $3,415Current Price Zone: Around $3,327First Support: $3,310Second Support (Target Zone): $3,296 – $3,282Stop-Loss Suggestion (for shorts): $3,351Indicators:


RSI (14) is around 45, indicating neutral momentum with room for further downside.%R (Williams %R) is below -79, confirming oversold conditions — but no reversal yet.Bearish trendline remains intact; any pullback toward $3,360 could offer new short opportunities.Outlook:If gold continues to respect the current descending trendline, we could see a further move toward the $3,296 – $3,282 support zone. A clean break below that may trigger further downside pressure.


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