As we eagerly anticipate the Federal Reserve's interest rate decision today, the market's focus is keenly on the performance of Gold, which has been displaying signs of weakness. Despite the prevailing bearish sentiment, there is a glimmer of hope in the form of positive divergence in the Gold Market. This divergence suggests that the downward momentum may be losing steam, potentially paving the way for a reversal in the near future.
Currently, the Gold Market is grappling with key levels of resistance at 2674 and support at 2641. These levels are crucial as they could dictate the future direction of Gold prices, with a breakthrough above resistance signaling a potential bullish trend, while a breach below support could indicate further downside pressure. Traders and investors are closely monitoring these levels for any decisive moves that could offer valuable insights into the market's next moves.
Chris
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