Gold is consolidating above 4090 to form a base! Set your stop-loss at 4090 if you’re betting on a rebound, and watch to see whether the bulls can turn things around!
$XAU Gold
On the shorter time frame, price has started fluctuating above a key support level. There’s a chance this could mark the bottom of the current decline, with price holding just above key support and bouncing after forming a base through consolidation!
Keep an eye on 4090. If you want to take a chance on a rebound here, 4090 is a reasonable stop-loss level. In the short term, watch 4230 as resistance to the rebound. A break above it could mean this decline is over!
$XAU Gold
On the shorter time frame, price has started fluctuating above a key support level. There’s a chance this could mark the bottom of the current decline, with price holding just above key support and bouncing after forming a base through consolidation!
Keep an eye on 4090. If you want to take a chance on a rebound here, 4090 is a reasonable stop-loss level. In the short term, watch 4230 as resistance to the rebound. A break above it could mean this decline is over!
