$GOLD BOUNCES AT $4,000 – IS THIS THE FINAL WASHOUT? 🔥
Entry: 4,060 🔥
Target: 4,484 🚀
Stop Loss: 3,973 ⚠️
Gold just bounced from a seven-month low at $3,973 and reclaimed the $4,000 psychological level. The 4H chart shows price testing the upper trendline of a descending channel from the January high, but the 200-day MA sits over $400 above at $4,484. RSI reading 47 suggests neutral momentum, not yet oversold, meaning another leg down is possible if the dollar stays strong. The 28% correction aligns with cycle models, and late buyers are now dumping – a classic washout signal. Are you buying this bounce or waiting for a retest of $3,800?
Not financial advice. Always manage your risk.
#GOLD #SupportBounce #GoldTrade #TechnicalAnalysis
🔥
Entry: 4,060 🔥
Target: 4,484 🚀
Stop Loss: 3,973 ⚠️
Gold just bounced from a seven-month low at $3,973 and reclaimed the $4,000 psychological level. The 4H chart shows price testing the upper trendline of a descending channel from the January high, but the 200-day MA sits over $400 above at $4,484. RSI reading 47 suggests neutral momentum, not yet oversold, meaning another leg down is possible if the dollar stays strong. The 28% correction aligns with cycle models, and late buyers are now dumping – a classic washout signal. Are you buying this bounce or waiting for a retest of $3,800?
Not financial advice. Always manage your risk.
#GOLD #SupportBounce #GoldTrade #TechnicalAnalysis
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