Gold hits resistance at 4,200 again

Gold faded above $4200 to test 4,110 support, holding short-term trend line despite weak #RSI. Drop risks 4,000; rally past 4,240 cancels bearish structure.
XM Group | 23 hari yang lalu

Overview: Gold prices had an early advance above the critical 4,200 level but faded quickly, pulling price action back within the narrow range of 4,110–4,200. However, the precious metal continues to hold above the short-term downtrend line.

Momentum: Technical oscillators continue to show signs of weakness, with the RSI pointing south below the 50 mark.

Bearish Scenario: Further downside pressure from current market levels could push price toward the lower boundary of the tight range at 4,110, ahead of the 4,000 psychological barrier.

Risk: A rally above the 4,240 resistance level would cancel the negative market structure.

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