Gold price declined slightly in its last intraday trading, after reaching the resistance of EMA50, which put it under negative pressure that pushed it to bounce lower, amid the continuation of the bearish corrective trend on the short-term basis, which remains dominant on the overall movement.
The relative strength indicators began showing negative overlapping signals after reaching exaggerated overbought levels, reinforcing the likelihoods of forming negative divergence, which might increase the selling power in the upcoming period.
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