Gold finds its footing after a deep intraday dip
After sliding into the $4,185–4,190 zone, Gold saw a strong wave of buying that sparked an immediate rebound. Price is now hovering around $4,205–4,210, signaling stabilization but no clear trend yet. The market remains in a tight range as traders wait for a catalyst.
Support Zones:
• $4,200: Light intraday support with moderate reactions.
• $4,185–4,190: The key demand zone where buyers aggressively stepped in, creating a sharp wick and recovery.
• $4,170: Next downside target if $4,185 breaks.
Resistance Zones:
• $4,215–4,220: Near-term barrier; multiple failed break attempts.
• $4,230–4,240: Strong structural resistance from previous swing highs.
• $4,260: Upper resistance where earlier rallies lost steam.
Market Outlook:
Gold is currently range-bound between $4,185 and $4,230, compressing and building energy for the next major move. Buyers still have the advantage as long as price stays above $4,185, but a bullish continuation requires a breakout above $4,220–4,230.
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