Gold (XAUUSD) Technical Analysis
🔹 Current Market Context
Gold is currently trading in a consolidation range between 4065 and 4044. Price action remains below the key pivot point, indicating persistent short-term bearish pressure.
🔻 Bearish Scenario (Primary Outlook)
As long as the price trades below the pivot point, the path of least resistance remains to the downside:
First Target: A retest of the immediate support level at 4044.
Breakout Target: A confirmed breakdown below 4044 will reinforce the bearish momentum, opening the door toward:
🎯 4028
🎯 4018
🔺 Bullish Scenario (Alternative Outlook)
If buyers defend the support level and push the price back up:
Confirmation Requirement: A sustained hold and consolidation above the pivot point at 4065.
First Target: Upside continuation toward 4070.
Breakout Target: A clean breakout above 4070 extends the bullish momentum toward 🎯 4088.
💡 Summary: 4065 (Pivot Point) and 4044 (Key Support) are the decisive levels. Watch for a confirmed breakout on either side to determine the next major directional movement.