Gold Under Correction, Set for Next Move

17 hours ago

📊 Market Overview
After reaching its historic high of $4059/oz, gold entered a deep correction phase.
Price dropped sharply to $3944, then rebounded technically to around $3990, but buying momentum quickly faded.
Currently, gold is hovering near $3950, reflecting a cautious sentiment around a critical support zone.

📈 Technical Analysis
• Short-term trend: 🔻 Bearish correction
• Key Resistance: 3995 – 4010 | next 4030
• Major Support: 3930 – 3915 | deeper at 3890
• EMA20/50 (H1): Price remains below both → bearish bias intact
• RSI (H1): Flat near neutral zone → no clear reversal yet
• Candlestick pattern: Lower highs on H1/H4 → downward momentum sustained

💡 Market Outlook
Sellers continue to dominate in the short term.
If gold fails to break above 4010, it may extend the decline toward 3915–3890 in the coming sessions.
However, that support area could attract strong buying interest, potentially triggering a rebound.

🎯 Trading Strategy
🔻 SELL XAU/USD: 4009 – 4012
🎯 TP: 40/80/200 pips
🛑 SL: 4015

🔺 BUY XAU/USD: 3898 – 3895
🎯 TP: 40/80/200 pips
🛑 SL: 3885

15 hours ago

Trade active

Be patient and wait for gold to break out of the 3950–3980 range, as the wide sideways movement can easily trigger stop hunts on both sides.

14 hours ago

Trade closed: target reached

Gold Faces Key Resistance Near $3990 — Sellers Testing Control