Gold Price Remains Under Selling Pressure – Analysis
Gold price continues its consecutive losses during recent intraday trading, remaining below the key support level of $4,500, confirming the strength of the bearish breakout and the continuation of selling pressure in the short term. Gold is also trading below its EMA50, which continues to add negative pressure and strengthen the current decline.
The bearish outlook reinforced after breaking a major short-term bullish trendline, signaling a shift toward bearish control. In addition, relative strength indicators continue to provide negative signals, supporting the lik