Gold (XAUUSD) is currently trading around $4,428, holding above the EMA50 on the 4-hour chart, which is positioned near $4,415. This EMA level is acting as a strong and critical support zone, and it will play a major role in determining Gold’s next directional move.
Key Support Scenario
If the $4,415 support continues to hold, Gold is likely to recover in the upcoming sessions. Sustained price action above this level could attract fresh buying interest and help stabilize the market after recent weakness.
However, if Gold fails to hold $4,415, bearish momentum may strengthen. In that case, we could see increased selling pressure, with price potentially retesting the $4,400 level, followed by a deeper move toward the $4,370 zone.
Resistance & Upside Potential
On the upside, $4,466 is the immediate resistance to watch. A decisive break above this level would open the door for a stronger bullish move, with Gold targeting the $4,500 psychological level and possibly higher.
Indicator Outlook (4H)
-
MACD (4H): Showing a negative signal, indicating short-term bearish pressure
-
RSI (4H): Currently neutral, suggesting no strong momentum in either direction
Conclusion
At the moment, $4,415 is the most important level for Gold. Holding above it favors a recovery, while a breakdown below it could shift control firmly to the bears. Traders should closely monitor price action around this support to gauge Gold’s next move.
___________________________________________________________________________________
Get Daily Crypto Updates & Trade Signals!
Join our free
Telegram channels for:
✅ Market updates
✅ Spot & Futures signals
Join now: 👇
Telegram:
Comments
Post a Comment