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Gold
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Hot
Trade European-style vanilla options
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Promotions
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PROM has recently come under significant pressure, with the price dropping to around $4.19, marking a quite sharp decline.
Interestingly, this downward move coincided exactly with a demand zone on a high time frame — in other words, this level was once an important accumulation area for the main players. From a technical perspective, the price reaching this region could lead to a struggle, as history often leaves its mark at critical levels.
The future direction will depend on the true strength comparison between the bulls and bears in this key area.