Gold (XAUUSD) – Intraday View
Price is currently consolidating below the previous support turned resistance around 5040, forming a small ascending structure after the recent sell-off.
This looks like a potential corrective move within a bearish context, especially while price remains below the key resistance zone.
If the current structure fails to break higher, I’ll be watching for continuation toward the lower support area around 4880.
Key areas:
5040 resistance
4880 support
For now, it’s a matter of whether buyers can break and hold above resistance, or if sellers regain control from this consolidation.
Waiting for confirmation as always.
Price is currently consolidating below the previous support turned resistance around 5040, forming a small ascending structure after the recent sell-off.
This looks like a potential corrective move within a bearish context, especially while price remains below the key resistance zone.
If the current structure fails to break higher, I’ll be watching for continuation toward the lower support area around 4880.
Key areas:
5040 resistance
4880 support
For now, it’s a matter of whether buyers can break and hold above resistance, or if sellers regain control from this consolidation.
Waiting for confirmation as always.
Pip happens