Gold Rebounds 1.4% After Channel Breakdown — Key Levels in Play

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Gold (XAU/USD) bounced off support at $2,971 and is now testing the $3,009 pivot. Price remains capped below the 50 EMA at $3,058. A break above this level could trigger a push toward $3,100 and $3,137. Failure to hold above $3,009 puts $2,941 back in focus. RSI is recovering but remains under 50, suggesting momentum is still fragile. Watch for a decisive move above $3,058 or a close below $2,971 for short-term direction.

📉 Summary: Potential buy above $3,058, sell pressure likely below $2,971.

Penafian

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