Overall Trend: Gold remains bearish in the short term, with prices continuing to trade below the 4165–4175 area, keeping selling pressure in place.
Any upside moves should be treated as corrective rebounds unless the 4165–4175 area is clearly broken and price closes above it.
On the other hand, holding above the 4116–4126 area may support the continuation of the short-term corrective rebound, provided clear confirmation signals appear.
Momentum: Momentum remains tilted to the downside, with sellers maintaining the advantage below 4165–4175. However, stability above the 4116–4126 area may support continued short-term corrective upside.
Confirmation of any improvement in momentum remains dependent on the price’s ability to break above resistance areas and close above them, while remaining cautious of false breakouts that could determine the next move.
Potential Support & Buy Zones: 4126–4116
A clear break and close below 4110 could bring renewed selling pressure and open the way toward: 4090 → 4071 → 4046
Potential Resistance & Sell Zones: 4164–4170 (Scalping only) 4193–4200
A clear break and close above 4200 would increase the probability of further corrective upside toward: 4213 → 4225 → 4243
KEY LEVEL 4116–4126
Holding above this area: Supports continued corrective upside toward higher levels, while the bearish bias remains in place below the main resistance areas.
A break and clear close below this area: Supports the possibility of further downside toward the next support levels.
Market Factors: Markets are focused today Federal Reserve meeting minutes, along with the U.S. 10-year Treasury note auction and Consumer Credit data. Markets are also watching U.S. crude oil inventories, Federal Reserve officials’ remarks, and statements from President Trump. The U.S. dollar and Treasury yields remain key factors influencing gold, particularly as markets look for further signals regarding the path of interest rates, while any hawkish tone in the Fed minutes could increase pressure on gold.
Disclaimer: Avoid entering trades without clear confirmation signals. Always adhere to proper capital management, stop-loss placement, and risk management.