$XAU Yesterday, gold opened at 4594, spiked up but faced resistance and pulled back significantly, hitting a high of 4610.7 before dropping to a low of 4509.5 where it found support and rebounded. The daily candlestick closed with a lower shadow, indicating a weak short-term trend.
Today, the resistance zone is between 4590-4597; consider going short on any highs. Short-term targets are 4560, 4540, 4532, 4520, and 4509. If we break below these levels, we’ll look to target 4495, 4480, 4473, and 4460 for support in batches.
Today, the resistance zone is between 4590-4597; consider going short on any highs. Short-term targets are 4560, 4540, 4532, 4520, and 4509. If we break below these levels, we’ll look to target 4495, 4480, 4473, and 4460 for support in batches.