$XAU
Good morning, brothers
Even though I'm posting this early, the market has already played out the rebound during the morning session.
Let's recap:
Currently: Gold prices dropped from 4375 to 4120 last Thursday, then bounced back to 4180 on Friday.
Key focus:
4180 is the crucial watershed; if we hold above it, we can expect a bounce to 4200-4250.
But there’s a lot of resistance above, so it’s just a rebound, not a reversal.
If we break below 4120, we might look down to 4070-4050.
Good morning, brothers
Even though I'm posting this early, the market has already played out the rebound during the morning session.
Let's recap:
Currently: Gold prices dropped from 4375 to 4120 last Thursday, then bounced back to 4180 on Friday.
Key focus:
4180 is the crucial watershed; if we hold above it, we can expect a bounce to 4200-4250.
But there’s a lot of resistance above, so it’s just a rebound, not a reversal.
If we break below 4120, we might look down to 4070-4050.
