Gold breaks below 3770 – short-term correction signal

Sep 24

📌 Market Developments:
Gold failed to hold the 3771–3774 area and dropped below 3770, now trading around 3768. This shows selling pressure has returned as buyers were not strong enough to break the 3778–3780 resistance zone.

📉 Technical Analysis:
🔺 Resistance (near): 3772 – 3775
🔺 Resistance (far): 3778 – 3781
🔻 Support (near): 3765 – 3762
🔻 Support (far): 3755 – 3750
📊 Short-term EMA is flattening as price moves back below 3770.
🕯️ H1 candles show strong selling pressure with long upper wicks and rising volume.

🧐 Outlook:
The main trend remains bullish, but gold is in a short-term correction after failing at 3778–3781. If 3765 breaks, price may continue to decline toward 3755 – 3750 before buyers step in again.

🎯 Trading Strategy:
🔺 BUY XAU/USD : 3755 – 3750
🎯 TP: 40 / 80 / 200 pips
🛑 SL: 3747
🔻 SELL XAU/USD: 3772 – 3775
🎯 TP: 40 / 80 / 200 pips
🛑 SL: 3778

Sep 24

Trade active

Gold price is approaching a key support zone, with selling pressure still dominating in the short term

Sep 24

Trade closed: target reached

Gold is consolidating in a narrow range of 3760–3770, waiting for a breakout to define the next trend.