Gold Intraday Signal: Rebound Expected Toward 5110
Analysis:
Gold (XAU/USD) shows signs of a potential intraday rebound while holding above the pivot level at 5040. Buyers are attempting to regain short-term control, targeting 5090 initially, followed by the extended objective at 5110. Price stabilization above support suggests renewed upward pressure.
Momentum indicators support the recovery scenario. The RSI is mixed with a bullish bias, indicating improving buying interest while leaving room for further upside extension. As long as price remains above 5040, pullbacks are likely to be corrective in nature.
Alternatively, a sustained break below 5040 would invalidate the rebound setup and expose downside levels at 5005 and 4980, where fresh demand may emerge.
Trade Setup:
Enter: Long above 5040
Stop-Loss (SL): 5005
Target A: 5090
Target B: 5110
