As mentioned yesterday, the market has pulled back to the channel border, with the current price near the previous daily low and key level at 2350. I believe the market may consolidate within the 2368-2350 range before deciding on its next move. If it breaks through this zone, it could potentially continue the current trend. With Fed Chair Powell's Testify upcoming, it's likely to bring increased volatility to the market. However, if the market makes a fake breakout at 2350, it's likely that it will retest the recent resistance zones above. My goal is the resistance zone around 2390
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Gold prices ticked higher on Tuesday, with investors awaiting comments from Federal Reserve Chair Jerome Powell and the U.S. June inflation data for further cues on the likely direction of interest rates.
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