Gold (XAU/USD) is currently trading at $2,459.16, up 0.45% on the day. The 4-hour chart indicates a pivot point at $2,436.75, with immediate resistance at $2,479.37, followed by $2,500.02 and $2,521.99. Support levels are noted at $2,417.73, $2,391.83, and $2,357.40.
The 50-day EMA is positioned at $2,416.29, slightly above the 200-day EMA at $2,386.81, indicating a short-term bullish trend.
Gold’s outlook remains bullish above $2,436.75; however, a break below this pivot could trigger a significant sell-off, suggesting traders adjust strategies to manage potential downside risks.
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.