The market recently updated its high, but then experienced a downward push.

Currently, it is still range-bound and approaching the support level.

The 4H timeframe shows a descending channel formation, which essentially creates a range zone.

I anticipate that gold will likely experience another pullback from the support level and continue to remain within this range zone.

However, if the market breaks through the support level, it could move further downwards towards the next support level mentioned in my weekly forecast.

My target is the resistance zone near 1990.

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