Analyst: Gold futures technical pattern remains bearish
According to Golden Ten Data on June 5, based on a report by RHB analyst Joseph Chai, the bearish technical pattern of Comex gold futures remains intact from the daily chart perspective. The analyst stated that although the latest bullish candlestick pattern indicates that selling pressure is “slightly pausing,” the overall technical pattern remains bearish. Chai pointed out that the market should pay attention to the fact that futures prices are still below the 20-day and 50-day simple moving averages.
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