$XAUT Gold futures have temporarily held above the 4,000 mark over the past two days. The upper end of the range appears to pivot around $4,100.
Bulls may move toward the supply zone above. If interest rates are not raised, prices could even return to the $4,100–$4,200 range.
For positioning, watch the area around $4,020–$4,000. In the short term, consider targeting $4,080–$4,100, then trimming the position and protecting the cost basis. After the upcoming rate decision, watch for a potential further rise to $4,200. Set a defensive stop at $3,970.
Bulls may move toward the supply zone above. If interest rates are not raised, prices could even return to the $4,100–$4,200 range.
For positioning, watch the area around $4,020–$4,000. In the short term, consider targeting $4,080–$4,100, then trimming the position and protecting the cost basis. After the upcoming rate decision, watch for a potential further rise to $4,200. Set a defensive stop at $3,970.
