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Back Technical analysis
XAU/USD Price Analysis and Forecast: Gold Continues to Trade Within a Narrow Range
Gold is struggling to gain momentum
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Gold is struggling to gain momentum on Tuesday, trading within a narrow range during the European session.From a technical perspective, last week's consolidation below the 200-day Simple Moving Average (SMA) reinforced bearish sentiment. However, the subsequent decline lost momentum near the support of the downward channel around the $4,260 level. Therefore, a decisive break below this zone is needed to confirm further downward potential.The Relative Strength Index (RSI) remains near the 33 mark, staying in negative territory without reaching oversold
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Irina Yanina,
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Irina Yanina
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