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Gold prices traded sideways and broke below 1232 and attained 1223 yesterday
A resistance at the 200 moving average on the H4 charts show possible downward movement today, while the 50 moving average looks to dip, the 104 moving average in orange has picked up strength.
A crossover with the 104 moving average intercepting the 50 moving average in blue from the top down will likely set for an intra-day sell entry for gold traders as the Traditional MACD sustains the claim for a bearish trend.
Trend Direction | S3 | S2 | S1 | R1 | R2 | R3 | Entry | Stop Loss | Exit |
| Slight Bearish | 1200 | 1210 | 1227.4 | 1232 | 1240 | 1250 |
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