Overall Trend: Gold remains bearish in the short term, with prices continuing to trade below the 4145–4155 area, keeping selling pressure in place.
Any upside moves should be treated as corrective rebounds unless the 4145–4155 area is clearly broken and price closes above it.
On the other hand, holding above the 4095–4085 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 4145–4155. However, stability above the 4095–4085 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: 4095–4085
A clear break and close below 4085 could bring renewed selling pressure and open the way toward: 4067 → 4049 → 4024
Potential Resistance & Sell Zones: 4130–4135 (Scalping only) 4144–4151 4156–4161
A clear break and close above 4161 would increase the probability of further corrective upside toward: 4172 → 4188 → 4196
KEY LEVEL 4095–4085
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 watching today’s U.S. Initial Jobless Claims data, along with remarks from Federal Reserve officials Christopher Waller and Alberto Musalem, while also monitoring the U.S. 30-year Treasury bond auction and Wholesale Inventories data. Markets are also closely watching movements in the U.S. dollar and Treasury yields, which remain key factors influencing gold, while any hawkish signals from Fed officials or stronger-than-expected labor market data 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.