Spot gold remains firmly in red as eased geopolitical and trade tensions revived demand for riskier assets.
The metal’s price eventually made clear break below pivotal Fibo support at $1547 (38.2% of $1445/$1611) after being congested here in past three days.
This generated bearish signal which would require confirmation on daily close below.
Bears pressure daily Kijun-sen ($1534), with break here to expose $1528 (50% retracement) and $1520 (rising 20DMA).
South-heading daily indicators support scenario, but oversold stochastic requires caution, with bounce and repeated failure to clear $1547 pivot, to put bears on hold.
Res: 1547; 1550; 1564; 1572
Sup: 1534; 1528; 1520; 1508
Interested in XAU/USD technicals? Check out the key levels
- R3 1573.72
- R2 1567.86
- R1 1558.31
- PP 1552.45
- S1 1542.9
- S2 1537.04
- S3 1527.49
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