Gold Intraday: Rebound or deeper decline ahead?
Gold (XAU/USD)
-125.77-2.94%
The downside prevails as long as 4,264 is resistance, with 4,162 and 4,136 as targets
Our pivot point is at 4,264.
Our preference: The downside prevails as long as 4,264 is resistance, with 4,162 and 4,136 as targets
Alternative scenario: above 4,264, look for 4,308 and 4,335.
Comment: Prices are now approaching our first target. Reaching this level could trigger a pullback. Conversely, a decisive break below it could lead to a further fall.
Supports and resistances:
4,335 **
4,308 *
4,264 **
4,197 last
4,162
4,136 **
4,110 *
Our preference: The downside prevails as long as 4,264 is resistance, with 4,162 and 4,136 as targets
Alternative scenario: above 4,264, look for 4,308 and 4,335.
Comment: Prices are now approaching our first target. Reaching this level could trigger a pullback. Conversely, a decisive break below it could lead to a further fall.
Supports and resistances:
4,335 **
4,308 *
4,264 **
4,197 last
4,162
4,136 **
4,110 *
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