$XAU — Downside Remains Strong 💀
Gold currently trading at $4,338, down 2.51% on the day after a sharp rejection from the $4,615 high.
This structure is important.
Price broke below key support and is now testing the $4,331 area. The selling pressure has been consistent, with lower highs forming after the spike.
If sellers hold control and break below $4,331, the next downside levels sit at $4,335 and potentially $4,200.
But if buyers step in and reclaim $4,371, we could see a relief bounce toward $4,419 and possibly $4,615.
Gold currently trading at $4,338, down 2.51% on the day after a sharp rejection from the $4,615 high.
This structure is important.
Price broke below key support and is now testing the $4,331 area. The selling pressure has been consistent, with lower highs forming after the spike.
If sellers hold control and break below $4,331, the next downside levels sit at $4,335 and potentially $4,200.
But if buyers step in and reclaim $4,371, we could see a relief bounce toward $4,419 and possibly $4,615.
