Indices and commodities
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GOLD
Short
Gold Rejection
Rationale
TradingView idea: H1 Bearish Retest Toward Major Demand for OANDA:XAUUSD by Mason_Drake
TradingView symbol: XAUUSD
XAUUSD is trading around 4,336 after another rejection from the descending bearish trendline and the lower edge of the 4,365–4,378 Resistance / Supply Zone.
The latest macro backdrop remains difficult for gold. The Fed raised the federal funds target range by 25 bp to 3.75%–4.00% on September 16 and said inflation remains elevated. Reuters reported on September 22 that gold remained pressured as markets leaned toward a higher-for-longer rate outlook, with futures pricing roughly a 90% …
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