From TradingView · · 1m
Gold Analysis Key Levels
Gold rebounds near $4,390 but faces resistance at $4,538.
In brief
Gold rebounds near $4,390 but faces resistance at $4,538. Gold recovers from $4,342 but needs to reclaim $4,511, $4,538 for bullish reversal. Originally reported by TradingView.
Market Structure
Gold trades near $4,390 after rebounding from $4,342, remaining below major resistance and the 200-day moving average.
Key Levels
Support: $4,342, $4,366; major demand: $4,282, $4,311; resistance: $4,413, $4,443; next resistance: $4,491, $4,511; major resistance / 200dma: $4,530, $4,538.
DXY & Yields
DXY remains soft around 98.8, helping gold recover while US Treasury yields stay elevated near 4.8%.
Macro & Fed
Hot inflation data would strengthen rate-hike expectations, support Treasury yields, and pressure gold; softer inflation data would favor gold recovery.
Geopolitical Risk
US-Iran tensions and elevated oil prices provide safe-haven support but increase inflation concerns, creating a two-sided environment for gold.
Trade Bias
Current bias: 55% bearish / 45% bullish; preferred sell area: $4,443, $4,511; main buy reaction: $4,342, $4,366.
Here's the gist
Gold recovers from $4,342 but needs to reclaim $4,511, $4,538 for bullish reversal.
