Gold Intraday: Critical support closing in
Gold (XAU/USD)
-15.75-0.35%
The downside prevails as long as 4,503 is resistance, with 4,395 and 4,365 as targets
Our pivot point is at 4,503.
Our preference: The downside prevails as long as 4,503 is resistance, with 4,395 and 4,365 as targets
Alternative scenario: above 4,503, look for 4,553 and 4,583.
Comment: As prices close in on our first target, this level may spark a pullback. However, a definitive break below it could pave the way for a deeper decline.
Supports and resistances:
4,583 **
4,553 *
4,503 **
4,425 last
4,395
4,365 **
4,335 *
Our preference: The downside prevails as long as 4,503 is resistance, with 4,395 and 4,365 as targets
Alternative scenario: above 4,503, look for 4,553 and 4,583.
Comment: As prices close in on our first target, this level may spark a pullback. However, a definitive break below it could pave the way for a deeper decline.
Supports and resistances:
4,583 **
4,553 *
4,503 **
4,425 last
4,395
4,365 **
4,335 *
Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
