Gold is pulling back after failing to clear resistance around 3970, showing the first signs of intraday exhaustion following the sharp rally. The bias remains bullish, but it’s healthy to see some correction after strong momentum.
The MA50 acts as the first line of dynamic support, aligning with the 3937 support level. Failure to hold above this zone may open the way for a test of lower reaction zones before fresh buying interest emerges.
A clear break above 3970 will likely invite momentum buyers and push price toward the 4000 and possibly 4020 resistance levels.
📌Key Levels to Watch
Resistance:
3970
4000
4020
Support:
3937
3909
3880
3820
🔎Fundamental Focus:
The ongoing U.S. government shutdown continues to delay key data and elevate risk sentiment. With uncertainty rising and liquidity thinning, gold is highly reactive to political headlines, leading to erratic intraday volatility. Safe-haven demand underpins dips, but sudden reversals remain possible.
The MA50 acts as the first line of dynamic support, aligning with the 3937 support level. Failure to hold above this zone may open the way for a test of lower reaction zones before fresh buying interest emerges.
A clear break above 3970 will likely invite momentum buyers and push price toward the 4000 and possibly 4020 resistance levels.
📌Key Levels to Watch
Resistance:
3970
4000
4020
Support:
3937
3909
3880
3820
🔎Fundamental Focus:
The ongoing U.S. government shutdown continues to delay key data and elevate risk sentiment. With uncertainty rising and liquidity thinning, gold is highly reactive to political headlines, leading to erratic intraday volatility. Safe-haven demand underpins dips, but sudden reversals remain possible.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.