Gold Intraday Signal: Turning Down Toward 4240
Analysis:
Gold (XAU/USD) has shifted into a bearish intraday phase while trading below the pivot resistance at 4317. Selling pressure is building, with downside targets aligned at 4257 and 4240 in extension. Price action shows clear rejection from higher levels, confirming that the market is turning down in the short term.
Momentum indicators strongly support the bearish outlook. The RSI is bearish and calls for further decline, signaling weakening bullish strength and increasing downside momentum. As long as price remains capped below 4317, the probability of continuation toward the lower targets remains elevated.
Alternatively, a sustained break above 4317 would invalidate the bearish scenario and open the path toward 4333 and 4353, where higher resistance levels come into play.
Trade Setup:
Enter: Short below 4317
Stop-Loss (SL): 4333
Target A: 4257
Target B: 4240
