GOLD: The Market has now Entered a “Critical Juncture” of Tug-of-war Between Bulls and Bears
After a strong pullback and rebound from 4023, gold is currently trading at 4030. $Gold - main 2608(GCmain)$$XAU/USD(XAUUSD.FOREX)$
The market has now entered a “critical juncture” of tug-of-war between bulls and bears.
Given the lackluster rebound, the price may retest today’s lows in the 4023–4025 range to confirm whether the “double bottom” support at that level is valid. Meanwhile, the key intraday support is near 4,020; if this level is broken, the price will continue to test the 4,000–4,005 range! First near-term resistance: 4,038–4,042 (former resistance-turned-support level)
For trading, focus primarily on entering sell positions after a rebound!
Strategy:
Sell: 4038–41 TP: 4010 SL: 4055 (Set SL according to personal preference)
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