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CMS Daily Market Report 3rd August 2022

 

According to the analysis, gold rose to the 1788 range on Tuesday, but with the pressure of sellers in this range, it closed at the 1760 range at the end of the day and formed a bearish candle. Now, according to the price position in the daily chart, selling in the range of 1775 is a low-risk option, and the way to reduce the price towards the range of 1745 is available.

Currently, according to the price position in the 4-hour chart, 1.01165 is the most important leading support range and the possible reaction of buyers in this range is important. If the price crosses this support limit, the path will be prepared for the continuation of the downward movement towards the 1.00250 range.

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