$XAUT — GOLD IS UNDER HEAVY SELLING PRESSURE! Can Buyers Defend $3,850?
Gold is facing another serious test. $XAUT is currently trading around $3,871.95, down 3.01%, after a sharp rejection from the $4,080 area.
The daily chart is showing strong bearish pressure. Sellers have taken control, and price is now approaching a critical support zone that could decide the next major move.
Key Levels to Watch:
- Current Price: $3,871.95
- Major Resistance: $3,991.24
- Strong Resistance: $4,070.65
- Higher Resistance: $4,150.05
- Immediate Support: $3,850.48
- Lower Support: $3,832.43
Potential Trade Setup
Entry: $3,875–$3,900 after confirmation
TP1: $3,991
TP2: $4,070
TP3: $4,150
SL: Below $3,832
Bullish Scenario: If $3,850 holds and buyers reclaim $3,991, a recovery toward $4,070 becomes possible.
Bearish Scenario: A daily close below $3,850 could expose $3,832 and bring further downside pressure.
My focus is on the $3,850 support zone. I don't want to jump into a trade while sellers are still controlling the chart. A confirmed reversal matters more than a quick bounce.
Remember, capital protection comes first. Cash is a position.
Will gold defend $3,850 and recover, or are we about to see another leg down?
#HuangExitNvidiaStrategyInFocus #AnthropicRejectsIPODelayValuationinQuestion #CoreWeaveJumps10%On168%RevenueGrowth #TradFiForBeginners #USJoblessClaimsRise
Gold is facing another serious test. $XAUT is currently trading around $3,871.95, down 3.01%, after a sharp rejection from the $4,080 area.
The daily chart is showing strong bearish pressure. Sellers have taken control, and price is now approaching a critical support zone that could decide the next major move.
Key Levels to Watch:
- Current Price: $3,871.95
- Major Resistance: $3,991.24
- Strong Resistance: $4,070.65
- Higher Resistance: $4,150.05
- Immediate Support: $3,850.48
- Lower Support: $3,832.43
Potential Trade Setup
Entry: $3,875–$3,900 after confirmation
TP1: $3,991
TP2: $4,070
TP3: $4,150
SL: Below $3,832
Bullish Scenario: If $3,850 holds and buyers reclaim $3,991, a recovery toward $4,070 becomes possible.
Bearish Scenario: A daily close below $3,850 could expose $3,832 and bring further downside pressure.
My focus is on the $3,850 support zone. I don't want to jump into a trade while sellers are still controlling the chart. A confirmed reversal matters more than a quick bounce.
Remember, capital protection comes first. Cash is a position.
Will gold defend $3,850 and recover, or are we about to see another leg down?
#HuangExitNvidiaStrategyInFocus #AnthropicRejectsIPODelayValuationinQuestion #CoreWeaveJumps10%On168%RevenueGrowth #TradFiForBeginners #USJoblessClaimsRise
