Gold Intraday Signal: Bearish Bias Below 3993.00
Gold is currently facing strong resistance around the 3993.00 pivot level, signaling limited upside potential in the short term. The metal remains under pressure as sellers dominate below this key level. The RSI is positioned below the 50 mark, confirming a bearish momentum and reinforcing the potential for a downside continuation.
As long as prices hold below 3993.00, the preferred scenario favors a move toward 3944.00 and 3924.00. The technical outlook indicates that market sentiment remains cautious, with traders likely taking profits near resistance.
However, if a decisive breakout occurs above 3993.00, it may open the path toward 4025.00 and 4058.00, invalidating the bearish view. Until then, the broader structure suggests consolidation with a downward bias, driven by weaker RSI readings and price rejections from upper zones.
Enter: Short below 3993.00
SL: 4025.00
Target A: 3944.00
Target B: 3924.00
