Gold is trading around 3,359, just above the important support at the 6/8 Murray and below the 21 SMA.
Gold, after reaching strong resistance at the 8/8 Murray, made a sharp technical correction and is now likely reaching support levels.
We could expect a technical rebound in the coming days to reach the 7/8 Murray or the 21 SMA around 3,392.
The Eagle Indicator is showing a negative signal, so if the price falls below 3,359, it is seen as a signal to sell with a target at the 5/8 Murray around 3,320.
If a technical rebound occurs above 3,360, it will be seen as an opportunity to buy until reaching 3,392, and then, after this relief, the bearish cycle could resume.
Key support is located around 3,355, 3,343, and 3,320. Immediate resistance is located around 3,375, 3,392 and 3,405.
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