the overnight failure near the $3,325-3,326 horizontal resistance and a subsequent slide below the $3,300 mark favor the XAU/USD bears. Moreover, oscillators on the 4-hour chart have again started gaining negative traction and back the case for a further intraday depreciating move for the Gold price. Hence, some follow-through weakness towards the $3,280 static support, en route to the overnight swing low around the $3,246-3,245 region, looks like a distinct possibility. A convincing break below the latter should pave the way for deeper losses and expose the $3,200 round figure.
On the flip side, the $3,325-3,326 area might continue to act as an immediate hurdle ahead of the $3,345-3,350 supply zone. A sustained strength beyond could negate the negative outlook and trigger a fresh bout of a short-covering move, which should allow the Gold price to reclaim the $3,400 mark. The momentum could extend further towards the next relevant barrier near the $3,432-3,434 region.
On the flip side, the $3,325-3,326 area might continue to act as an immediate hurdle ahead of the $3,345-3,350 supply zone. A sustained strength beyond could negate the negative outlook and trigger a fresh bout of a short-covering move, which should allow the Gold price to reclaim the $3,400 mark. The momentum could extend further towards the next relevant barrier near the $3,432-3,434 region.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.