From the current candlestick chart perspective, gold encountered strong resistance near $4,400, with bullish counterattacks failing, and bearish forces continue to dominate the market. The previous high at 4,450 forms short-term resistance, while the 4,310 low below serves as the key support level.
The current trend aligns with the inertial decline following an "M-head breakdown," with contracting rebounds and expanding declines characteristics clearly visible. The moving average system shows bearish alignment, with gold price trading below the moving averages, and rebound highs gradually decl
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