Gold Intraday Signal: Aim @ 4915
Analysis:
Gold (XAU/USD) maintains a bearish intraday structure while trading below the pivot resistance at 5030. Sellers remain in control, targeting 4940 initially, followed by the extended downside objective at 4915. Rejection below resistance reinforces the short-term negative bias.
Momentum conditions support the bearish scenario. The RSI calls for a drop, indicating strengthening downside pressure and increasing the probability of continuation toward lower levels. As long as price remains capped below 5030, rebounds are expected to be corrective.
Alternatively, a sustained break above 5030 would invalidate the bearish setup and open the path toward 5080 and 5115, where higher resistance zones are positioned.
Trade Setup:
Enter: Short below 5030
Stop-Loss (SL): 5080
Target A: 4940
Target B: 4915