Gold Intraday: Critical support closing in
Gold (XAU/USD)
-49.10-1.11%
The downside prevails as long as 4,433 is resistance, with 4,337 and 4,315 as targets
Our pivot point is at 4,433.
Our preference: The downside prevails as long as 4,433 is resistance, with 4,337 and 4,315 as targets
Alternative scenario: above 4,433, look for 4,471 and 4,493.
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:
4,493 **
4,471 *
4,433 **
4,365 last
4,337
4,315 **
4,293 *
Our preference: The downside prevails as long as 4,433 is resistance, with 4,337 and 4,315 as targets
Alternative scenario: above 4,433, look for 4,471 and 4,493.
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:
4,493 **
4,471 *
4,433 **
4,365 last
4,337
4,315 **
4,293 *
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