Gold Intraday Signal: Toward 5045
Analysis:
Gold (XAU/USD) continues to display a bullish intraday structure while trading firmly above the pivot support at 4960. The price remains supported by sustained buying pressure, paving the way toward the first resistance at 5034, followed by the extended objective at 5045. As long as the pivot level holds, the upside bias remains intact.
Momentum indicators support the bullish continuation scenario. The RSI calls for a new upleg, indicating strengthening upward momentum and increasing the probability of further gains in the short-term structure. Pullbacks toward 4960 are likely to be viewed as buying opportunities rather than signals of reversal.
Alternatively, a break below 4960 would challenge the bullish outlook and expose downside levels at 4940 and 4905, where renewed selling pressure could emerge.
Trade Setup:
Enter: Long above 4960
Stop-Loss (SL): 4940
Target A: 5034
Target B: 5045
