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According to the formula on the daily timeframe, GOLD is showing a reversal from the Double Double Reversal level at 4897.98. In addition to that, yesterday’s price action broke below the support level, which further strengthens the bearish outlook.
With this structure, there is a high probability that price may continue moving lower to test the First Cycle Completion (CC) level around 4597.98.
As a result, the overall bias remains on the sell side, and the focus should be on identifying high-probability sell setups rather than looking for buys at this stage.
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