The (Gold) price declined in its last trading on the intraday levels, affected by the dominance of bearish corrective wave on the short-term basis, amid the continuation of the negative pressure that comes from its stability below its EMA50, indicating the bullish momentum and increases the possibilities of extending the current corrective wave.

Noticing the beginning of forming negative divergence on the relative strength indicators after reaching exaggerated overbought levels compared to the price move, with the emergence of the negative signals from them, reinforcing the expectations of more downside moves on the near-term basis unless the price succeeds in recovering the bullish momentum.

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