International spot gold shows a strong reversal, with fierce battles at a key technical level

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Abstract generation in progress

International spot gold has recently shown a significant upward reversal, attracting attention among market participants. Particularly, steady position accumulation at the lower price zone is believed to be supporting the current price increase. According to analysis from industry data platform Jin10, this reversal phase is not just a temporary rebound but suggests a more structural market shift.

Buying at the lower zone forming a price foundation

The notable position accumulation observed in the low-price zone reflects a bullish stance among market participants. This buying support at the bottom has provided a foothold for the reversal of international spot gold. Multiple technical support levels have been confirmed, with especially important lower support acting as a strong defense line.

Breakthrough of resistance levels at higher prices becomes the next focus

The key to the upward reversal is the resistance level around the mid-50XXs, located below previous highs. The battle at this level is expected to significantly influence market sentiment. Additionally, testing at the intermediate peak around 48XX is also a crucial confirmation point. Whether these multiple technical levels can be sequentially cleared is extremely important in determining the sustainability of the reversal.

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