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Price Analysis for Gold:
Gold prices concluded below the $2340.10 mark yesterday, signaling a continuation of the corrective bearish trend. The subsequent primary target is anticipated to align with the 38.2% Fibonacci correction level at $2272.06.
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Expectations:
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Anticipations are inclined towards further descent in the forthcoming sessions, buoyed by downward pressure from the EMA50. Nevertheless, breaching the $2340.10 threshold could denote a reversal, prompting an effort to reclaim the primary bullish trend.
Expected Trading Range:
Envisioned trading activity is poised to oscillate between support at $2305.00 and resistance at $2345.00.
Trend Forecast:
The outlook leans bearish.
