Gold Intraday Signal: Watch 5245
The Gold Intraday Signal reflects a consolidation phase with price capped below the pivot resistance at 5245. As long as 5245 acts as resistance, the market is expected to remain choppy with a mild bearish bias. Sellers retain short-term control while price trades beneath this key level.
Immediate support is located at 5125. A decisive break below this level would confirm renewed downside pressure and likely trigger continuation toward the extended target at 5100. The inability to reclaim 5245 reinforces the corrective structure and keeps downside risks elevated.
Alternatively, a sustained move above 5245 would neutralize the bearish bias and expose higher resistance levels at 5280 and 5310, suggesting a potential short-term recovery.
Trade Setup:
Enter: Short below 5245
Stop-Loss (SL): 5280
Target A: 5125
Target B: 5100