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2025-07-29 20:21:47
[Spot Gold Technical Analysis] The daily gold chart shows a clear sideways consolidation pattern with the Bollinger Bands. The middle Bollinger Band is located near $3,338, while the price is currently trading below it, reflecting a weak short-term outlook. The upper Bollinger Band provides key resistance near $3,402, while the lower Bollinger Band provides support near $3,274, effectively limiting the price range. Analysts believe that a break below $3,270 could open up further downside potential. Regarding the MACD indicator, the fast line (DIFF) remains at 2.77, while the slow line (DEA) is at 7.22, with both lines continuing to converge near the zero axis. The MACD histogram is in negative territory, currently at -8.90, indicating that bearish momentum has not significantly weakened. Analysts believe that unless a golden cross is achieved in the short term, gold prices will continue to fluctuate at low levels. The RSI is currently at 45.27, in a neutral to weak range, indicating limited buying momentum. If the RSI falls below 40, selling pressure could accelerate, potentially testing the previous low of $3,120 in the short term. Overall, the analysis suggests that gold prices have rebounded from a low of $2,956 to a high of $3,499, but momentum has gradually weakened after hitting $3,451. Currently, the price is in a typical volatile correction phase, and technically favors a bearish outlook.
