$XAUT 11.4 Latest Morning Gold Update
After opening this morning, prices rebounded from a low to recover. Following a short-term rise, they pulled back. This rebound is a recovery after a broader downtrend, and upward momentum remains weak.
The short-term rebound is now nearing a strong resistance zone above, while bullish momentum is gradually fading and selling pressure could build quickly. Unless prices can break above and hold firmly at 3940, the rebound is likely to remain under pressure. In the short term, a pullback and consolidation are the priority scenario.
Recommendation:
Sell at 3950–3940, targeting around 3910–3890
After opening this morning, prices rebounded from a low to recover. Following a short-term rise, they pulled back. This rebound is a recovery after a broader downtrend, and upward momentum remains weak.
The short-term rebound is now nearing a strong resistance zone above, while bullish momentum is gradually fading and selling pressure could build quickly. Unless prices can break above and hold firmly at 3940, the rebound is likely to remain under pressure. In the short term, a pullback and consolidation are the priority scenario.
Recommendation:
Sell at 3950–3940, targeting around 3910–3890