GOLD XAUUSD 1H: $4,437 Rejection | Eyes On $4,380 Support
Gold just got smacked after hitting highs.
Chart Breakdown:
High: $4,437.37
Current: $4,399.70
Drop: -$37 in one move
Key Zone: $4,399 - $4,400 is now acting as resistance after flipping from support
Next Support: $4,380 - $4,376 zone marked by the arrow. Long wick there shows buyers stepped in once.
What’s happening:
Gold ran to $4,437 then rejected hard from the $4,424 - $4,428 supply zone. Price is now consolidating below it.
If $4,399 fails to flip back to support, next stop is the $4,380 demand area. A bounce there could send it back to retest $4,424.
With inflation and DXY volatility, Gold is the hedge to watch this week.
#GOLD
$XAU
Gold just got smacked after hitting highs.
Chart Breakdown:
High: $4,437.37
Current: $4,399.70
Drop: -$37 in one move
Key Zone: $4,399 - $4,400 is now acting as resistance after flipping from support
Next Support: $4,380 - $4,376 zone marked by the arrow. Long wick there shows buyers stepped in once.
What’s happening:
Gold ran to $4,437 then rejected hard from the $4,424 - $4,428 supply zone. Price is now consolidating below it.
If $4,399 fails to flip back to support, next stop is the $4,380 demand area. A bounce there could send it back to retest $4,424.
With inflation and DXY volatility, Gold is the hedge to watch this week.
#GOLD
$XAU