XAUUSDGOLD Gold faced pressure at the 4040 level in the Asian session before quickly retreating to 4001. The daily chart maintains a continuous upward trend, with prices remaining within an upward channel. The MA5, MA7, and MA10 daily moving averages remain upward. However, the RSI indicator is overbought above the 80 level, raising concerns about a potential sharp decline after a breakout. Technical indicators are beginning to recover, suggesting a short-term volatile correction. Today's trading strategy is to sell high and buy low.
Based on the 4-hour market trend, focus on short-term support at the 4000-3990 level. Bulls are rallying strongly, so consider buying on a pullback to support. All bearish candlestick patterns should be viewed as short-term corrections to the upward trend, not as a sign of a trend reversal.
Key Points: First Support Level: 4001, Second Support Level: 3988, Third Support Level: 3975
First Resistance Level: 4048, Second Resistance Level: 4059, Third Resistance Level: 4072
GOLD The overall outlook stays positive as gold continues to build value above key zones, suggesting that the market is preparing for another push higher. Unless momentum fades, short-term corrections may act as healthy retracements within the broader bullish trend.
XAUUSD China to resume trading from midnight today, gold all time high silver near 50$, absence of economic data for fed, uncertainty in France, a change of govt in japan. Central banks buying gold as debasement, gold seems in risk zone as per analysis of a number of people. What can these things mean for remaining days of this week for gold? sparkrlightDrAnandM Silver at historic reversal price of 50$
XAUUSD Gold is currently showing weakness after testing the 4050 level, where strong rejection appeared. This area has acted as a key resistance, and price behavior suggests that bullish momentum is fading.
If sellers continue to defend this level, gold could start a technical correction toward lower supports. Overall structure remains sensitive — staying below 4050 keeps the short-term bearish tone active, while any sustained move above it may shift momentum back to buyers.
XAUUSD sell@4070-75, SL 4082.36 in mind. Target 4000 minimum by tonight or tomorrow. Silver sell 151200, SL 151500, target 148000. Find an M. Have patience and wait for exact price to come. Sell in very small quantity.