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Gold was still facing strong selling pressure on Wednesday, with spot gold prices failing to hold previous support levels and falling towards the $4,400 level. In the short term, the market continues to shift toward a deeper adjustment phase.
The main reason for this decline is the easing of geopolitical tensions in the Middle East. Reports of potential progress between the United States and Iran have led to lower demand for safe-haven gold, prompting investors to book profits after gold’s strong gains earlier this year.
Notably, gold prices fell despite a weaker U.S. dollar and lower Treasury yields, suggesting that current price action is primarily driven by lower geopolitical risk premiums and market positioning adjustments.
technical analysis
daily structure
Downward momentum remains
Double top pattern confirmed near 4580
The 4500-point neckline support was broken
Resistance remains near 4530-4545
The main support is around 4400
four hour structure
The downward trend remains
Bollinger Bands continue to expand downward
Rebound momentum weak, sellers still in control
If the 4400 level is decisively exceeded, gold prices may fall towards the 4350 area.
day trading strategies
Current trends:
Sell on rallies while maintaining tight risk management.
sales strategy
Sell at 4470-4480 level
Stop loss:
4500
Target:
4430
4400
Expansion target: 4350
Procurement strategy
Buy at 4350-4360 level
Stop loss:
4330
Target:
4400
4420
Expansion target: 4430
market forecast
As long as gold prices remain below the 4,500 mark, downward callback pressure is likely to continue in the short term.
Key factors to pay attention to:
Developments in the Middle East
US dollar trend
Treasury yield
Market sentiment shifts towards safe-haven assets
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