Hey everyone,

I wanted to give you a quick update on the latest movement in the gold market, especially for those who caught yesterday's analysis. It seems like our predictions were right on the money, quite literally! 📈

Gold Technical Analysis: Taking a look at the daily chart, gold hit a new all-time high of $2222.70 per ounce yesterday before retracing back, forming a significant upper shadow in the daily candle. This indicates a potential top and hints at a downward movement in the near future.

Moving to the four-hour chart, we observed a sharp increase in gold prices early Thursday morning, spurred by interest rate decisions and Powell's speech. However, the gains were short-lived as gold retraced later in the day. Currently, indicators like the upper Bollinger Band turning downwards, the bearish crossover in the KDJ indicator, and decreasing red bars in the MACD histogram suggest a bearish bias in the overall trend.

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👍 Like and comment below if you found this update helpful or if you have any insights to share! Let's keep the discussion going. 🚀