🟡 Gold stabilized above $3,300 — the market is on pause, but the trend is still bullish

📊 After the recent record of $3,500, the price of gold corrected to $3,297 — this is the Fibonacci level of 38.2%. The price is currently holding above this zone, which supports the upward trend.

🔹 Key levels:

• Support — $3,297

• Resistance — $3,367

• Target upon breakout — $3,427

📉 Indicators:

• RSI at 62 — close to overbought

• MACD — weak bullish momentum, but no reversal yet

• Price below the 50-week EMA, but above the 200-week — the trend remains strong in the long term

🌍 What affects gold:

🟢 Pros:

• Expectations of a rate cut by the Fed

• Weak dollar

• Geopolitics (USA-China, Middle East)

🔴 Cons:

• Potential profit-taking

• Trump's rhetoric on lowering tariffs — reduces market anxiety

📌 Conclusion: Gold is holding strong, but to continue rising, it needs to break $3,367. The market is cautious, but bulls are still in the saddle.

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