XAUUSD H4 Idea

The short-term outlook for gold remains bearish due to the potential for additional interest rate hikes and the strength of the dollar. The analysis of the Comex Gold market suggests a bearish tone, with selling pressure observed. Moving averages indicate a bearish outlook, while the RSI reading suggests weaker buying pressure. The price is below the main support area and far from the main resistance area, further supporting the bearish sentiment. Based on these indicators, it is likely that the market will continue its downward movement.

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