As expected, gold faced pressure near 4190 and pulled back; however, with each successive high, the support levels below have also been shifting upward.
We continue to monitor the short-term support zone around 4140–4150.
Should gold pull back toward this support area, one could consider going long.
Meanwhile, we are also watching for a potential breakout above the strong short-term resistance zone of 4190–4200.
For short-term trading, the strategy is to buy low and sell high within the 4150–4200 range:
Go long between 4145–4155, or go short between 4190–4200.
Please wait patiently for the right entry opportunity.
We continue to monitor the short-term support zone around 4140–4150.
Should gold pull back toward this support area, one could consider going long.
Meanwhile, we are also watching for a potential breakout above the strong short-term resistance zone of 4190–4200.
For short-term trading, the strategy is to buy low and sell high within the 4150–4200 range:
Go long between 4145–4155, or go short between 4190–4200.
Please wait patiently for the right entry opportunity.