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After the market absorbed most of the weekend’s headlines regarding the situation in the United States and Iran, gold still has no clear direction and continues to trade sideways in a wider range.
Currently, gold fluctuates within the following range:
449X | 459X
At the same time, in the small time period, the price has recently fallen below the small range near 4550, indicating that the market is still in the consolidation stage and does not have enough power to make a clear breakthrough.
personal vision
I still prefer range trading until the market can clearly break out of one end of the range.
If it clearly falls below 4490 points → the decline may extend to:
4460 | 4460 4450 | 4450 4520
However, if the price manages to break above 4590 → the market may continue to rally towards higher resistance areas:
4600 | 4600 4620 | 4620 4650–4660
Important resistance areas to monitor for selling reactions:
4550 | 4550 4580 | 4580 4600 | 4600 4620 | 4620 4650–4660
Current trading plan:
Monitor support areas for buying reactions
Monitoring Resistance Areas for Selling Reactions
Focus on scalping and range trading until a clear breakout occurs
main idea
The market still lacks clear direction
Gold remains capped in the 449X–459X range
Small time frames have broken through 4550, but this is still not enough to confirm the larger trend
We wait for a clearer breakout before predicting the next big move
“The longer the market trades sideways in a tight range, the stronger the next breakout will usually be.” 🔥
In your opinion…
Can gold break above 4590 and continue its rebound – or will a fall below 4490 open the way for further bearishness? 👀