Gold Intraday: Decline at a crossroads
Gold (XAU/USD)
-53.83-1.32%
The downside prevails as long as 4,090 is resistance, with 4,023 and 4,005 as targets
Our pivot point is at 4,090.
Our preference: The downside prevails as long as 4,090 is resistance, with 4,023 and 4,005 as targets
Alternative scenario: above 4,090, look for 4,119 and 4,137.
Comment: The approach toward our first target represents a key level to monitor, it may trigger pressure for a pullback, though a firm close below this threshold could lead prices lower.
Supports and resistances:
4,137 **
4,119 *
4,090 **
4,046 last
4,023
4,005 **
3,987 *
Our preference: The downside prevails as long as 4,090 is resistance, with 4,023 and 4,005 as targets
Alternative scenario: above 4,090, look for 4,119 and 4,137.
Comment: The approach toward our first target represents a key level to monitor, it may trigger pressure for a pullback, though a firm close below this threshold could lead prices lower.
Supports and resistances:
4,137 **
4,119 *
4,090 **
4,046 last
4,023
4,005 **
3,987 *
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