Today Technical Analysis: Gold Bounces Off $4,110, but Downward Pressure Remains Strong

Gold Technical Analysis

Gold is showing a bullish short-term recovery, trading around $4,180 after rebounding strongly from the $4,110 low. Price is holding above the MA5, MA10 and MA20, with the moving averages now turning upward.

Immediate resistance is around $4,190–$4,200, followed by $4,213 and the previous breakdown area around $4,274. Support is around $4,153, followed by the recent low near $4,111.

The recovery remains constructive while gold holds above $4,153. A break above $4,200–$4,213 would strengthen the rebound, while a move below $4,153 would suggest renewed downside pressure.

Gold 1H Chart

Source: STARTRADER app | Gold rebounds from $4,110 level, but the immediate trend remains to the downside

Brent Technical Analysis

Brent is showing a bearish short-term structure, trading around $101.87 after falling sharply from above $107. Price remains below the three moving averages MA5, MA10 and MA20, with the MA20 around $102.27 acting as overhead resistance.

Immediate support is around $101.30, followed by the psychological $100.00 level. On the upside, resistance is around $102.27–$102.65, followed by $104.60.

The chart remains under selling pressure, and a break below $101.30 could expose the $100 area. A sustained move back above $102.65 would be needed to improve the short-term technical picture.

Brent 1H Chart

Source: STARTRADER app | Oil prices shift to the downside on potential supply recovery

USDJPY Technical Analysis

USDJPY is showing short-term bearish pressure, trading around 156.99 after failing to sustain the recovery toward the 157.50 area. Price is below the MA10 and MA20, while the MA5 has turned lower.

Immediate support is around 156.37, followed by 156.15. On the upside, resistance is around 157.20–157.50, with the recent high near 157.45.

The recent rebound from 156.37 has eased some selling pressure, but the pair needs to reclaim 157.20–157.50 to strengthen the bullish momentum. A break below 156.37 would reinforce the bearish structure.

USDJPY 1H Chart

Source: STARTRADER app | GBPUSD rises following UK’s hot inflation numbers

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