By examining this chart in the weekly time frame, we can see that the price had faced the pressure of demand several times in the past weeks by reaching $1935 and even managed to grow up to $1984! Now the price has penetrated below this level and this can cause gold to fall more in the weekly time frame! If the price stabilizes below $1938, we can expect a drop to targets below $1900! If this scenario is realized, its downward targets are $1901, $1872, $1856, and $1847, respectively!
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Best Regards , Arman Shaban
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