#XAUUSD
#GOLD short-term outlook (early this week)
Market Sentiment: Range-bound, with downside risks
Gold prices are expected to remain sideways early this week. Immediate resistance is at $4,680.
A decisive break above $4,700 could signal the impact of unexpected fundamental drivers early in the session.
Key technical level:
Resistance: $4,680 (Main). Watch $4,700 for a potential momentum shift.
Support: $4,550 – $4,580. This area is crucial for the start of the week.
Note: Failure to hold the $4,550 to $4,580 support range could trigger an accelerating corrective move, leading to a broader downside correction.
Be alert to these pivot points.
Trading strategy:
Open short positions near $4,670 and $4,680.
Risk Management: A sustained break above $4,700 invalidates the short-term bears.
Target: Target the $4,550 to $4,580 range.
If you like my analysis, remember to like and follow
Trade $XAU <<<<
