Gold - Early Morning Analysis



Yesterday, gold price surged to around 5190, followed by consecutive large bearish candles with obvious weakness. Yesterday's price action perfectly aligned with our previous analysis.

Recently, prices have been suppressed by the 5230 resistance level. Every time price reaches this resistance, it gets rejected. Meanwhile, price remains below the moving averages, and rebounds show no strength - essentially the upside is weakening. Continue to watch for downside.

Short around 5137, target 5090
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