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Gold generally moved in a oscillating decline yesterday, with repeated shakeouts and fluctuations during the day, and a direct break lower in the evening. The daily chart ultimately closed with a long upper shadow bearish candle, clearly showing heavy resistance and selling pressure above.
From a technical perspective, the short-term daily pattern is somewhat weak, indicating a need for a continued pullback in the short term; however, from the weekly long-term view, the previous mid-term bullish structure that rebounded from a bottom has not been broken, so there’s no need to expect a large on