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3/26 Gold Repair Rally Initiated, Bullish Reversal Still Awaits
Gold prices have begun rebounding after dropping from around 4100, with consecutive gains on Tuesday and Wednesday stabilizing the daily trend. The price is now oscillating in the upper range. Many believe a bullish trend is coming, but the timing isn't here yet. From a weekly perspective, the correction hasn't ended, and bears still have potential to exert pressure. Currently, this is only a technical rebound, and bulls and bears will continue to engage in a tug-of-war.
Key Levels
Upper short-term resistance: 4635–4650
Lower support: 4490–4500
Trading Suggestions
If the price pulls back to around 4490–4510 and stabilizes, go long
If it drops to around 4460, add to long positions
First target 4600, then look at 4630 after breaking through
Investment involves risks; enter the market with caution. Personal views for reference only.
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