Analyst: Gold Futures Technical Chart Still Bearish

According to an analysis by Joseph Chai, an analyst at RHB, in a report, the bearish technical pattern for Comex gold futures remains intact based on the daily chart. The analyst stated that although the latest bullish candlestick pattern suggests selling pressure is taking a "minor breather," the overall technical outlook remains bearish. Chai noted that the market should focus on the fact that futures prices are still trading below the 20-day and 50-day simple moving averages. (Jin Shi)