Gold prices (XAU/USD) are currently trading around $4,111.76, showing a slight decline of -0.36% on the 4-hour chart. The metal continues to face selling pressure below the $4,150 resistance zone as bulls struggle to regain control.
The 7-period SMMA (Smoothed Moving Average) line indicates that the short-term momentum remains weak, with candles consistently forming below the moving average. This suggests that the recent rebound attempts are being capped by bearish momentum.
Key Technical Levels
- Resistance 1: $4,150
- Resistance 2: $4,230
- Support 1: $4,050
- Support 2: $3,980
If the price breaks below $4,050, further downside could open toward $3,980 and even $3,900. On the other hand, a clear 4-hour candle close above $4,150 could trigger a short-term bullish reversal targeting $4,230 – $4,280.
Market Sentiment
The market remains cautious amid mixed global risk sentiment. Traders are closely watching upcoming U.S. economic data and Fed comments, which could influence gold’s next major move.
Currently, gold is consolidating in a narrow range — a potential signal that a strong breakout may be approaching soon.
📈 Trade Signal
Bias: Bearish below $4,150
Entry (Sell): $4,120 – $4,140
Take Profit: $4,050 / $3,980
Stop Loss: $4,180
Alternative Buy Setup (if breakout occurs):
Buy above: $4,155
Take Profit: $4,230 / $4,280
Stop Loss: $4,110
Conclusion
Gold’s short-term trend remains under pressure, but the upcoming sessions could bring high volatility. Traders should monitor price behavior near $4,150 for directional confirmation — a decisive move from this level could set the tone for the next big swing.
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