Technical analytics

XAU/USD

Bulls gave up control after touching 1300. The yellow metal sharply dropped after that. The spot broke 1290 and stopped at 1280 where gold faced some buying rejection. The price reversed to 1290 afterwards. The resistance exists at 1290, the support stands at 1280 dollars per ounce.

The precious metal may ease to the lower limit of the upward channel at 1270.

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