In early Asian trading today, spot gold fell below $4,130, down 0.25% on the day and trading around $4,129. It declined for a second consecutive trading day, with near-term selling pressure continuing.
There’s just one key level: $4,105.
Technically, gold has fallen below the lower boundary of its ascending channel and is trading below the 66-day EMA. The stochastic indicator is also continuing to flash bearish signals. Key daily support lies in the $4,110–$4,100 area, while $4,110 is the line dividing bulls and bears on the 4-hour chart.🤑🤑
There’s just one key level: $4,105.
Technically, gold has fallen below the lower boundary of its ascending channel and is trading below the 66-day EMA. The stochastic indicator is also continuing to flash bearish signals. Key daily support lies in the $4,110–$4,100 area, while $4,110 is the line dividing bulls and bears on the 4-hour chart.🤑🤑