Gold (XAU/USDT) is currently around 4,068.
Overall direction: The daily structure is still bearish, but the 4-hour trend has turned bullish. So the larger trend is down, while there is a short-term recovery.
4,260–4,310: Daily seller zone.
4,350: Upper boundary of the volume zone
Support levels:
4,040– a strong low and a higher low on the 4-hour chart. The first buying reaction is expected here.
4,000: Psychological level.
3,880–3,900: Main support is here.
My expectation: Since 4-hour momentum has weakened, I expect a pullback to 4,040 first.
If there is a reaction from there, the price will retest 4,110–4,145. If it closes above 4,145, 4,170 opens up, followed by 4,260–4,300.
If 4,040 breaks, 4,000, then 3,880–3,900 come into focus.
Does not constitute investment advice; this is my own watchlist #gold
Overall direction: The daily structure is still bearish, but the 4-hour trend has turned bullish. So the larger trend is down, while there is a short-term recovery.
4,260–4,310: Daily seller zone.
4,350: Upper boundary of the volume zone
Support levels:
4,040– a strong low and a higher low on the 4-hour chart. The first buying reaction is expected here.
4,000: Psychological level.
3,880–3,900: Main support is here.
My expectation: Since 4-hour momentum has weakened, I expect a pullback to 4,040 first.
If there is a reaction from there, the price will retest 4,110–4,145. If it closes above 4,145, 4,170 opens up, followed by 4,260–4,300.
If 4,040 breaks, 4,000, then 3,880–3,900 come into focus.
Does not constitute investment advice; this is my own watchlist #gold
