$XAU Daily Trading: rebound or deeper decline on the horizon?
For us, the pivot point is at 4,458.
Preferred scenario: a decline is likely as long as 4,458 remains resistance, with 4,323 and 4,293 as targets
Alternative scenario: above 4,458, look for 4,508 and 4,538.
Comment: Prices are moving now toward our first target. If this level is reached, a rebound is likely to appear; but a decisive break below it may open the door to further losses.
$XAU
Support and resistance levels:
4,538 **
4,508 *
4,458 **
4,438
4,365 last
4,323
4,293 **
4,264 *
4,234 **
⚠️ Analysis is not a guarantee of profit, and capital management is necessary.
$XAU
For us, the pivot point is at 4,458.
Preferred scenario: a decline is likely as long as 4,458 remains resistance, with 4,323 and 4,293 as targets
Alternative scenario: above 4,458, look for 4,508 and 4,538.
Comment: Prices are moving now toward our first target. If this level is reached, a rebound is likely to appear; but a decisive break below it may open the door to further losses.
$XAU
Support and resistance levels:
4,538 **
4,508 *
4,458 **
4,438
4,365 last
4,323
4,293 **
4,264 *
4,234 **
⚠️ Analysis is not a guarantee of profit, and capital management is necessary.
$XAU
