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GOLD MARKET ANALYSIS
Recent Movement: Gold climbed to $2,720 before experiencing a market drop to $2,645.
Short-Term Strategy: To initiate a buy, we need confirmation that selling pressure has eased, as indicated by candlestick signals on the H1 and H4 charts. Key buy zones for the upcoming week are identified at $2,636 - $2,614.
Long-Term Outlook: Gold retains the potential to reach the $3,000 mark. However, before a significant upward move, the price is likely to trade sideways in the H1 and H4 timeframes or dip further to build selling momentum and mislead the market.
Short-Term Strategy: To initiate a buy, we need confirmation that selling pressure has eased, as indicated by candlestick signals on the H1 and H4 charts. Key buy zones for the upcoming week are identified at $2,636 - $2,614.
Long-Term Outlook: Gold retains the potential to reach the $3,000 mark. However, before a significant upward move, the price is likely to trade sideways in the H1 and H4 timeframes or dip further to build selling momentum and mislead the market.
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