Gold Intraday Signal: Watch 4900 as Key Downside Target
Analysis:
Gold is trading beneath a major supply zone near 5300–5500, where a weak high has formed and upside momentum stalled. Despite the recent rebound, price remains capped below the upper resistance band, keeping the broader corrective structure intact. As long as 5300 is not reclaimed decisively, downside risk remains elevated.
The nearest demand sits around 4900, which aligns with prior structure and liquidity imbalance. A rejection from current levels may trigger a move toward 4900, with a deeper extension possible toward 4300 if bearish momentum accelerates. A sustained break above 5300 would weaken the bearish outlook and shift focus toward 5500.
Trade Setup:
Enter: Short below 5300
Stop-Loss (SL): 5400
Target A: 4900
Target B: 4300
