Gold Intraday Signal: Look for 4370
Analysis:
Gold (XAU/USD) holds a bearish intraday bias while trading below the pivot resistance at 4465. Sellers remain in control, targeting 4396 initially and the main downside objective at 4370 in extension. Rejection from higher levels keeps downside pressure active.
Momentum conditions reinforce the bearish case. The RSI has broken below the 30 level, signaling strong downside momentum and increasing the probability of continuation toward lower supports. As long as price stays capped below 4465, rebounds are expected to be corrective.
Alternatively, a sustained break above 4465 would weaken the bearish setup and open the path toward 4480 and 4500.
Trade Setup:
Enter: Short below 4465
Stop-Loss (SL): 4480
Target A: 4396
Target B: 4370