From TradingView · · 40s
XAU/USD Bullish Rebound Potential
Gold price may rebound near 4002, 4008 support zone.
In brief
Gold price may rebound near 4002, 4008 support zone. Gold could rise to 4101 if it holds above 4002, 4008 support. Originally reported by TradingView.
Gold Price Action
Gold has recently experienced a strong bearish move and is now consolidating near a potential support zone around 4002, 4008.
Bullish Rebound Conditions
A sustained hold above support, combined with clear bullish confirmation, could create an opportunity for price to move toward higher resistance levels.
Risk Management
However, if the support zone breaks, the bullish scenario may weaken and further downside could follow.
The one thing
Gold could rise to 4101 if it holds above 4002, 4008 support.
