$XAU /USDT BIG LONG SETUP
Direction: LONG
Entry Point: $4,050–$4,065
Stop-Loss: $4,025
Target Points:
TP1: $4,085
TP2: $4,110
TP3: $4,140
TP4: $4,170
Gold has experienced a sharp decline, reaching $4,053.73 on your chart. A technical rebound is possible if buyers defend this support zone, but the broader short-term trend remains bearish.
Reuters reported on October 22 that rising oil prices and inflation concerns were weighing on gold as markets anticipated interest rates remaining higher for longer. This creates downside risk despite the possibility of a short-term recovery.
Trade confirmation: Consider a long only if price holds the $4,050 area and shows a bullish reversal. If support breaks decisively, avoid the long setup.$XAU
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Direction: LONG
Entry Point: $4,050–$4,065
Stop-Loss: $4,025
Target Points:
TP1: $4,085
TP2: $4,110
TP3: $4,140
TP4: $4,170
Gold has experienced a sharp decline, reaching $4,053.73 on your chart. A technical rebound is possible if buyers defend this support zone, but the broader short-term trend remains bearish.
Reuters reported on October 22 that rising oil prices and inflation concerns were weighing on gold as markets anticipated interest rates remaining higher for longer. This creates downside risk despite the possibility of a short-term recovery.
Trade confirmation: Consider a long only if price holds the $4,050 area and shows a bullish reversal. If support breaks decisively, avoid the long setup.$XAU
#BinancePick