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CMS Daily Market Report 4th 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.

Now, according to the price position in the 4-hour chart, any price increase towards the 20.13 range is a selling opportunity. The support trend line range is the first leading support range. The possible reaction of buyers in this range is important.

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