POTENTIAL SUPPORT & BUYING ZONES:
- 4267–4259 — Potential support and scalping zone, provided price continues to trade above 4255 and bullish confirmation signals emerge.
A clear break and close below 4255 may bring renewed selling pressure and open the way toward: 4237 → 4218 → 4195
POTENTIAL RESISTANCE & SELLING ZONES: 4285–4293 — Short-term resistance, provided price remains below 4300. 4309–4316 4323–4329 4338–4345
A clear break and close above 4345 would increase the probability of an upward corrective move toward: 4365 → 4382 → 4401
KEY LEVEL 4290–4300
Holding below this zone: Keeps the bearish scenario intact, with sellers maintaining the advantage.
Breaking and closing clearly above this zone: Supports the possibility of an extended corrective move toward the next resistance zones.
MARKET FACTORS: Markets are awaiting the release of U.S. durable goods orders for August, along with the final reading of the University of Michigan Consumer Sentiment Index and inflation expectations for September. Markets are also monitoring comments from Federal Reserve officials, with continued focus on the implications of the latest interest rate hike to the 3.75%–4.00% range. The data, particularly inflation indicators and consumer sentiment, may influence the U.S. dollar and Treasury yields, thereby affecting gold prices. Gold is expected to remain sensitive to economic data and monetary policy commentary throughout today's trading session.
DISCLAIMER: Avoid entering trades without clear confirmation signals. Always adhere to proper capital management, stop-loss placement, and risk management.