Gold Price Analysis: Bearish Reversal or Bounce?
Gold (XAU/USD) is testing a crucial support zone amid a potential Head and Shoulders bearish pattern. A break below the neckline could trigger a drop towards $2,807, while holding above it may push prices back to $2,940
Key Levels:
Resistance: $2,940, $2,960, $2,980
Support: $2,920, $2,900, $2,850, $2,807
US PMI Data: Strong data may strengthen the USD, pressuring Gold lower.
Geopolitical Risks: Safe-haven demand could limit downside.
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