Gold (XAU/USD) is currently trading at $2,427.38, up 0.21%. The 4-hour chart highlights key levels with a pivot point at $2,420.01. Immediate resistance stands at $2,439.89, followed by $2,453.28 and $2,466.01.
Support levels are identified at $2,401.70, $2,392.24, and $2,378.65. The 50-day EMA is at $2,403.38, and the 200-day EMA is at $2,367.49. The upward channel is supporting the gold price near the $2,420 level.
A bullish outlook prevails above this pivot point, with an immediate target at $2,439.89. A break below $2,420 could trigger a sharp selling trend.
Arslan, a webinar speaker and derivatives analyst, has an MBA in Finance and MPhil in Behavioral Finance. He guides financial analysis, trading, and cryptocurrency forecasting. Expert in trading psychology and sentiment.