Gold Intraday Signal: Consolidation With Bearish Pressure
Analysis:
Gold (XAU/USD) is trading in a consolidation phase, but the intraday bias remains bearish while price stays below the pivot resistance at 4480. Sellers continue to cap upside attempts, keeping pressure toward 4426 and the main downside objective at 4396 in extension. The inability to reclaim the pivot reinforces the risk of further downside.
Momentum indicators align with the bearish scenario. The RSI is bearish and calls for further decline, signaling weakening bullish momentum within the consolidation range. As long as price remains below 4480, the structure favors continuation to the downside rather than a bullish breakout.
Alternatively, a decisive move above 4480 would invalidate the bearish setup and open the path toward 4500 and 4513, where higher resistance levels are located.
Trade Setup:
Enter: Short below 4480
Stop-Loss (SL): 4500
Target A: 4426
Target B: 4396