Gold (XAU/USD) is trading at $2,373.57, down 0.96% as of the latest session. On the 4-hour chart, the pivot point is at $2,378.29. Immediate resistance levels are $2,397.40, $2,422.04, and $2,440.04. Immediate support levels are $2,356.14, $2,338.97, and $2,319.03.
Technical indicators show the 50-day EMA at $2,409.36 and the 200-day EMA at $2,376.96. The current price below both moving averages suggests bearish momentum. The outlook remains bullish above $2,375; however, a break below this level could lead to 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.