Hello, dear friends!
Gold has just experienced significant volatility, witnessing a sharp decline before making a notable recovery. In the recent trading session, gold dropped to a low of approximately $2,915, losing nearly $39 in a single day, before rebounding and currently hovering around $2,917. This price action indicates that buyers still maintain a certain level of strength, despite considerable selling pressure.
Looking ahead, if gold successfully stabilizes above the lower boundary of the intact uptrend, we may see another attempt to break above the $2,950, potentially reaching new highs. However, failure to hold above key levels could trigger renewed selling pressure.