The pullback in gold continues. We remain focused on the 4100–4110 support zone; if gold holds this level, a rebound could potentially break through today’s high.
Should gold fall below 4100, it would open up further downside, with the next support levels located around 4060–4080.
On the upside, keep an eye on the 4150–4160 resistance zone. A breakout above this area would point toward the next resistance level at 4190–4200.
Short-term trading strategy: Prioritize going long on pullbacks, with shorting at higher levels as a secondary option.
Consider going long near 4105–4115, with a target of 4160.
If gold faces resistance near 4150–4160, you may look to enter a short position.
Should gold fall below 4100, it would open up further downside, with the next support levels located around 4060–4080.
On the upside, keep an eye on the 4150–4160 resistance zone. A breakout above this area would point toward the next resistance level at 4190–4200.
Short-term trading strategy: Prioritize going long on pullbacks, with shorting at higher levels as a secondary option.
Consider going long near 4105–4115, with a target of 4160.
If gold faces resistance near 4150–4160, you may look to enter a short position.